Sections 12, 13, 14, 15, 16 and 17 of the India International Arbitration Centre Act, 2019

(1) On vesting of management of the undertakings in the Centre, or on appointment of a Custodian under Section 11(2), every person who was in charge of management immediately before that event must deliver to the Centre or Custodian, as applicable, all assets, books of account, registers and other documents in his custody relating to the undertakings.

(2) The Central Government may give directions to the Custodian concerning the Custodian's powers and duties. The Custodian may also seek instructions from the Central Government regarding the manner in which management should be conducted or any other matter arising during management.

(3) Any person who, on the specified date, possesses or controls books, documents or other papers relating to the undertakings must account for and deliver them to the Central Government, Custodian or Centre, as the case may be, or to a person or body specified for that purpose.

(4) The Central Government or the Centre may take, or cause to be taken, all necessary steps to secure possession of undertakings vested in the Central Government or the Centre under the Act.

(5) The Society must, within the period allowed by the Central Government, furnish a complete inventory of its properties and assets as on commencement of the New Delhi International Arbitration Centre Ordinance, 2019 (Ord. 10 of 2019), insofar as they pertain to the undertaking. The Central Government, Custodian or Centre must provide reasonable facilities for that purpose.

The Central Government, Custodian or Centre, as the case may be, is entitled, to the exclusion of all other persons, to receive up to the specified date money due to the Society in relation to undertakings that have vested in the Central Government, Custodian or Centre and that is realised after commencement of the New Delhi International Arbitration Centre Ordinance, 2019 (Ord. 10 of 2019), even where the realisation relates to a period before commencement of that Ordinance.

1. To bring targeted reforms to develop itself as a flagship institution for conducting international and domestic arbitration.
2. To promote research and study, provide teaching and training, and organise conferences and seminars in arbitration, conciliation, mediation and other alternative dispute resolution matters.
3. To provide facilities and administrative assistance for conciliation, mediation and arbitral proceedings.
4. To maintain panels of accredited arbitrators, conciliators and mediators at national and international level, or specialists such as surveyors and investigators.
5. To collaborate with national and international institutions and organisations to ensure the credibility of the Centre as a specialised institution in arbitration and conciliation.
6. To set up facilities in India and abroad to promote the activities of the Centre.
7. To lay down parameters for different modes of alternative dispute resolution mechanisms adopted by the Centre.
8. To pursue such other objectives as it may consider appropriate with approval of the Central Government.

1. Current Section 15(a): To facilitate the conduct of arbitration and other forms of alternative dispute resolution mechanism, both international and domestic, in the manner as may be specified by the regulations.
2. To provide cost-effective and timely services for the conduct of arbitration and conciliation at national and international level.
3. To promote studies in alternative dispute resolution and related matters and promote reforms in the system of settlement of disputes.
4. To undertake teaching, diffuse knowledge of law and procedures on alternative dispute resolution and related matters, and award certificates and other academic or professional distinctions.
5. To impart training in alternative dispute resolution and related matters to persons handling arbitration, conciliation and mediation.
6. To co-operate with national or international societies, institutions and organisations for promoting alternative dispute resolution.
7. To perform such other functions as may be entrusted to it by the Central Government for promoting alternative dispute resolution.

No act or proceeding of the Centre is invalid merely because of:

1. A vacancy or defect in the constitution of the Centre.
2. A defect in the appointment of a person acting as a Member of the Centre.
3. An irregularity in the procedure of the Centre that does not affect the merits of the case.

The Chairperson, Full-time Member or Part-time Member may resign by written notice under his hand addressed to the Central Government.

The Chairperson or a Full-time Member must, unless permitted by the Central Government to relinquish office sooner, continue in office until the earliest of:

1. Expiry of three months from the date the resignation notice is received.
2. The date on which a duly appointed successor enters office.
3. Expiry of the Member's existing term of office.