Malaysian Arbitration Act - Summary of Key Changes in 2024
The Malaysian Arbitration (Amendment) Act 2024 has been passed, to reflect key changes in the Arbitration Act 2025. The 2024 Act has not come into effect. Essentially, the 2024 amendments improves the organisational structure of the AIAC, harmonises provisions with the UNCITRAL Model Law and introduces timely provisions on third party funding. Here are 10 key changes to be aware of! 1. President of the AIAC Court Sections 2, 13 The Asian International Arbitration Centre (Malaysia) will be replaced by the Asian International Arbitration Centre Court of Arbitration. "The Director of AIAC" will be replaced by the term "President", which refers to the President of the, who will replace the Director of the Asian International Arbitration Centre (Malaysia). The change aligns with the restructuring initiatives of the Asian International Arbitration Centre, as outlined in the Supplementary Agreement between the Government of Malaysia and the Asian-African Legal Co...