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Repeals - Chapter 49 - Arbitration Law of Czech Republic: Practice and Procedure

Author(s): 
Alexander J. Bělohlávek
Page Count: 
4 pages
Media Description: 
1 PDF Download
Published: 
March, 2013
Jurisdictions: 
Czech Republic,
Slovakia
Practice Areas: 
National Legislation
Author Detail: 

Alexander J. Bělohlávek, Univ. Professor, Dr.iur., Mgr., Dipl. Ing. oec/MB, Dr.h.c. Lawyer admitted and practising in Prague/CZE (Branch N.J./US), Senior Partner of the Law Offices Bělohlávek, Dept. of Law, Faculty of Economics, Ostrava, CZE, Dept. of Int. and European Law, Faculty of Law, Masaryk University, Brno, CZE (visiting), Chairman of the Commission on Arbitration ICC National Committee CZE, Arbitrator in Prague, Vienna, Kiev etc. Member of ASA, DIS, Austrian Arb. Association. The President of the WJA – the World Jurist Association, Washington D.C./USA.

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Originally from: Arbitration Law of Czech Republic: Practice and Procedure

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49.I. COMMENTARY ON SECTION 49 OF THE ARBACT
The Arbitration Act, as at the entry into effect thereof, i.e. on 1 January 1995 (Section 50 of the ArbAct), repealed certain regulations superseded by the new legislation. In particular, it repealed Act No 98/1963 Coll. on arbitration in international commerce and on the enforcement of arbitral awards (the 1963 ArbAct). The 1963 ArbAct permitted arbitration to take place in the Czech Republic only in disputes arising from international commerce and, to a limited extent and under certain conditions, in disputes related to international commerce. For more on the transition to the new legislation, see the commentary on Section 48 of the ArbAct, which also provides a comparison with the principles of intertemporal rules in the implementation of the Amendment to the ArbAct.
Specific provisions of the Stock Exchange Act and the Commodity Exchanges Act were also repealed. Thus, a platform for the formation of permanent arbitral institutions was established to cover those specific areas, i.e. securities trading (now covering a broader area that incorporates capital market dispute resolution) and trade in commodities. These permanent arbitral institutions are discussed in the commentary on Section 13 of the ArbAct.