4
Effect of registration
Act: Arbitration (International Investment Disputes) Act 2011
Section Provisions
ACT IX OF 2011 ACT IX OF 2011 ARBITRATION (INTERNATIONAL INVESTMENT DISPUTES) ACT, 2011 An Act to implement the International Convention on the Settlement of Investment Disputes between States and Nationals of other States [Gazette of Pakistan, Extraordinary, Part - I, 30th April, 2011] No. F.9(34)/2010-Legis. dated 30-4-2011.---The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on 28th April, 2011, is hereby phblished for general information:-- Whereas Pakistan has signed and ratified the International Convention on the Settlement of Investment Disputes between States and Nationals of other States; And whereas it is expedient to enact the law for that purpose. It is hereby enacted as follows:- 4. Effect of registration.---Subject to the provisions of this Act, an award registered under section 3 shall, as respects the pecuniary obligations which it imposes, be of the same force and effect for the purposes of execution as if it had been a judgment of the High Court given when the award was rendered pursuant to the Convention and entered on the date of registration under this Act, and, so far as it relates to such pecuniary obligations: (a) proceedings may be taken on the award; (b) the sum for which the award is registered shall carry interest if the award so stipulates; and (c) the High Court shall have the same control over the execution of the award, as if the award had been a judgment of the High Court.