Report No. 246
32. The arbitrator holds shares, either directly or indirectly, which by reason of number or denomination constitute a material holding in one of the parties or an affiliate of one of the parties that is publicly listed.
33. The arbitrator holds a position in an arbitration institution with appointing authority over the dispute.
34. The arbitrator is a manager, director or part of the management, or has a similar controlling influence, in an affiliate of one of the parties, where the affiliate is not directly involved in the matters in dispute in the arbitration.
Explanation. - (1)The term 'close family member' refers to a spouse, sibling, child, parent or life partner.
(2) The term 'affiliate' encompasses all companies in one group of companies including the parent company.
(3) It may be the practice in certain specific kinds of arbitration, such as maritime or commodities arbitration, to draw arbitrators from a small, specialized pool. If in such fields it is the custom and practice for parties frequently to appoint the same arbitrator in different cases, this is a relevant fact to be taken into account while applying the rules set out above."
[Note: The above rules are taken and adapted from the Orange list of the International Bar Associations Guidelines on Conflicts of Interest in International Arbitration.]
After The Fourth Schedule, add the "The Fifth Schedule
(See section 12)