The Hong Kong Department of Justice has extended by two months the period for responding to its consultation paper on the reform of the law of arbitration on Hong Kong. Views and comments on the draft bill, and any matters discussed in the consultation paper, are requested by 30 June 2008.

The purpose of the proposed reform is to make the law on arbitration more user-friendly and promote Hong Kong as a regional centre for dispute resolution, by abolishing the distinction between domestic and international arbitration which exists under the current Arbitration Ordinance. A dual regime currently operates, one applicable to domestic arbitration and the other applicable to international arbitration. The current rules governing international arbitration are based upon the UNCITRAL Model Law on International Commercial Arbitration. The consultation paper and the draft bill propose a unitary regime for all arbitration in Hong Kong, based on the UNCITRAL Model Law, thereby abolishing the distinction. From the perspective of international arbitration in Hong Kong, the proposed arbitration legislation will therefore be broadly similar to the existing regime. The new arbitration law will apply to all arbitrations where the seat of the arbitration is Hong Kong.

Source: Hong Kong Department of Justice