The International Arbitration Act 15 of 2017 (“the Act”) was assented to by the Southย African President on 19ย Decemberย 2017.ย The Act was published in theย Government Gazette on 20ย Decemberย 2017 and became effective on that date.
The Act provides for the incorporation of the UNCITRAL Model Law intoย Southย African Law and provides anew for the recognition and enforcement of foreignย arbitral awards.
The long awaited enactment of new arbitration legislation is an important andย welcome development.ย South Africa is now the 11th African country to have adoptedย the Modelย Law.
It is widely expected that the modernisation of South African international arbitrationย legislation will encourage the development of South Africa as a regional arbitrationย centre.
For many years, Werksmans has played an active role in supporting theย development of international arbitration initiatives in Southย Africa.ย South Africa’sย growth as a regional arbitration centre will present opportunities for all involved inย African dispute resolution, includingย LEX Africa and its members.
Article compiled by Des Williams, Director at Werksmans Attorneys