ARBITRATION (INTERNATIONAL INVESTMENT DISPUTES) ORDINANCE 2007

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ORDINANCE XIII OF 2007

ARBITRATION (INTERNATIONAL INVESTMENT DISPUTES) ORDINANCE, 2007

An Ordinance to implement the International Convention on the Settlement of Investment Disputes between States and Nationals of other States

[Gazette of Pakistan , Extraordinary, Part I, 26th March, 2007 ]

No.2(1)/2007-Pub., dated 26-3-2007.---The following Ordinance promulgated by the President is hereby published for general information:

Whereas Pakistan has signed and ratified the International Convention on the Settlement of Investment Disputes between States and Nationals of other States;

And whereas, the National Assembly is not in sessions and the President is satisfied that circumstances exist which render it necessary to take immediate action;

Now, therefore, in exercise of the powers conferred by clause (1) of Article 89 of the Constitution of the Islamic Republic of Pakistan, the President is pleased to make and promulgate the following Ordinance:

3. Registration of awards.--- (1) An award shall be deemed to have been rendered pursuant to the Convention on the date on which certified copies of the award were dispatched to the parties.

(2) Any person seeking recognition or enforcement of an award rendered pursuant to the Convention shall be entitled to have the award registered in the High Court subject to proof of any matters that may be prescribed and to the other provisions of this Ordinance.

(3) In addition to the pecuniary obligations imposed by the award, the award shall be registered for the reasonable costs of and incidental to registration.

(4) If at the date of the application for registration the pecuniary obligations imposed by the award have been partly satisfied, the award shall be registered only in respect of the balance, and accordingly if those obligations have been wholly satisfied, the award shall not be registered.

[Gazette of Pakistan, Extraordinary, Part I, 26th March, 2007]

Whereas Pakistan has signed and ratified the International Convention on the Settlement of Investment Disputes between States and Nationals of other States;

1. Short title, extent and commencement.--- (1) This Ordinance may be called the Arbitration (International Investment Disputes) Ordinance, 2007.

(2) It extends to the whole of Pakistan.

(3) It shall come into force on 6th day of March, 2007.

2. Definitions.--- In this Ordinance, unless there is anything repugnant in the subject or context,---

(a) "award" includes any decision interpreting, reversing or annulling an award, being a decision pursuant to the Convention, and any decision as to costs which under the Convention is to form part of the award;

(b) "Centre" means the International Centre for Settlement of Investment Disputes established by the Convention;

(c) "Convention" means the Convention on the Settlement of Investment Disputes between States and Nationals of other States incorporated in the Schedules;

(d) "Government" means the Federal Government; and

(e) "Schedule; means the Schedule to this Ordinance.

4. Effect of registration.--- Subject to the provisions of this Ordinance, an award registered under section 3 shall, as respects the pecuniary obligations which it imposes, be of the same force and effect for the purposes of execution as if it had been a judgment of the High Court given when the award was rendered pursuant to the Convention and entered on the date of registration under this Ordinance, and, so far as it relates to such pecuniary obligations:---

(a) proceedings may be taken on the award;.

(b) the sum for which the award is registered shall carry interest; and

(c) the High Court shall have the same control over the execution of the award, as if the award had been a judgment of the High Court.

5. Binding on the Government.--- Sections 3 and 4 shall bind the Government but not so as to make an award enforceable against the Government in a manner in which a judgment would not be enforceable against the Government.

6. Government contribution to expenses under the Convention.--- Any sums required to meet any obligations of the Government arising out of Article 17 of the Convention (which obliges the Contracting States to meet any deficit of the Centre) shall be charged on and paid out of the Federal Consolidated Fund..

7. Exclusion of Arbitration Act.--- The provisions of the Arbitration Act 1940, shall not apply to proceedings pursuant to the Convention.

8. Certain provisions of Convention to have force of law.--- (1) Notwithstanding anything to the contrary in any law, the provisions of Articles 18, 19, 20, 21(a), Article 22 as it applies to Article 21 (a), 23(1) and 24 shall have the force of law.

(2) Nothing in Article 24(1) of the Convention shall be construed as--

(a) entitling the Centre to import into Pakistan goods free of any customs duty without restriction on their subsequent sale therein;

(b) conferring on the Centre any exemption from taxes or duties which form part of the price of goods sold; or

(c) conferring on the Center any exemption from taxes or duties which are in fact no more than charges for services rendered.

(3) For the purpose of Article 20 and Article 21 (a) of the Convention as given the force of law by this section, a statement to the effect that the Centre has waived an immunity in the circumstances specified in the statement, being a statement certified by the Secretary-General of the Centre, or by the person acting as Secretary- General, shall be conclusive evidence of such waiver.

9. Power to make rules.--- The Federal Government may make rules: --

(a) to prescribe the procedure for applying for registration of an award under this Ordinance, and to require the applicant to give prior notice of his intention to register to other parties;

(b) to prescribe matters to be proved on the application and the manner of proof, and in particular to require the applicant to furnish a copy of the award certified pursuant to the Convention;

(c) to provide for the service of notice of registration of the award by the applicant on other parties;

(d) to provide for the stay of execution whether provisionally or otherwise of any award registered under this Ordinance in accordance with the provisions of the Convention; and

(e) on any other matter which may be necessary to carry out the purposes of this Ordinance.

10. Federal Government to amend Schedule.--- The Federal Government may, by notification in the official Gazette, amend the Schedule in conformity with any amendments to the provisions of the Convention set out therein which may hereafter be duly made and adopted.

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