The Russian Ministry of Justice has passed the Regulation On the Council for the Development of Arbitration. The Regulation enters into force on September 1, 2016.The document was developed in compliance with the Federal Law № 382 «On Arbitration in the Russian Federation». In accordance with the Regulation, the Ministry of Justice will form a Council for the development of arbitration (the Council).
The Regulation defines objectives and powers of the Council, which, among others, include the following:
review of best practices in arbitration in Russia and abroad;
expertise and information support to the Ministry of Justice in the matters relating to arbitration and monitoring implementation of the legislation on arbitration;
drafting regulations on arbitration, preparation of proposals to the legislation on arbitration;
recommendations to the Ministry on granting or refusing permission for non-commercial organizations to establish arbitral institutions.
In addition, the Regulation sets provisions on the formation of the Council. The Council will consist of approximately 20-40 individuals, including government employees, representatives of the legal, academic and business communities and other persons.
The regulation contains the list of documents required for the applications for permission to establish arbitral institutions.