Voting by the members of the ICSID Administrative Council on the amendments recently proposed by the Secretariat to the ICSID Rules and Regulations has concluded. It is expected that the amended Rules and Regulations will come into effect on April 10, 2006.
Pursuant to Article 44 of the Convention, unless otherwise agreed by the parties, an ICSID arbitration proceeding is conducted in accordance with the Arbitration Rules in effect on the date on which the parties consented to arbitration.
The new amendments concern ICSID Arbitration Rules 6, 32, 37, 39, 41, and 48 and, where applicable, the corresponding provisions of the ICSID Arbitration (Additional Facility) Rules, as well as the ICSID Administrative and Financial Regulation 14.
The latest amendments have been incorporated in the texts provided below.