The formulation of a Model Arbitration Law by UNCITRAL has proved to be an event of great importance for the legal and commercial world. Countries all over the world have re-modelled their arbitration laws in the light of the U. N. Model. Sri Lanka is one of them. In 1995, it enacted a fresh Arbitration Act (No. 11 of 1995). As stated in the Preamble, one of its objects is to make "comprehensive legal provision" for the conduct of arbitration proceedings and the enforcement of arbitral awards. The second object is to make legal provision to "give effect", to the principles of the Convention on the Recognition and Enforcement of Foreign Awards of 1958 (the New York Convention).
General approach
The Sri Lanka Act very largely follows the UNCITRAL Model law. At the same time, certain departures from, or additions to, the rules given in the Model Law have been considered necessary. Important departures and additions will be referred to, in this article, at the appropriate place.
