The Arbitration Bill’s changes clarify important aspects of English arbitral law, reinforcing London’s position as a leader in international arbitration.
By Charles Rae
On 21 November 2023, the UK government unveiled its long-awaited plans to update and modernise the legal framework applicable to arbitrations in England, Wales, and Northern Ireland through amendments to the Arbitration Act 1996. In line with the recommendations of the Law Commission in its September 2023 report (a summary of which can be found in Latham’s previous Client Alert), the government has opted for targeted reform over root-and-branch changes, focusing on clarifying a number of important aspects of arbitral law which have become contentious in recent years. The result is a suite of practical revisions (the Arbitration Bill 2023) that will provide greater certainty to parties and help maintain the UK’s position as a leading destination for international arbitration.