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