The Hong Kong Arbitration Ordinance (HKAO) – a new, more user-friendly legal framework for arbitrations – has come into effect.
Following a lengthy consultation process, the HKAO was approved by the Hong Kong Legislative Council at the end of last year and came into force on 1 June.
Previously, Hong Kong provided different procedures for arbitrations, according to whether they were international or domestic. The new regime unites the domestic and international rules, providing a structure similar to the internationally-accepted framework of the UNCITRAL Model Law but with features suitable for the local market.
Peter Lodder QC, chair of the Bar, said: “Many years in the making, the HKAO is extremely welcome and continues to ensure that Hong Kong is a friendly and receptive home for international arbitration.
“This is particularly good news for the Bar, which continues to offer high quality and competitively priced services in arbitrations all over the world.”
The Bar Council recently published a promotional brochure, Barristers in international arbitration, highlighting the advantages of using barristers for international arbitration work.