Step 1: Understanding the Repeal by the Arbitration Act, 1996.
The Arbitration and Conciliation Act, 1996 repeals three key laws:
- The Arbitration Act, 1940, which governed arbitration procedures before 1996.
- The Arbitration (Protocol and Convention) Act, 1937, which implemented international conventions.
- The Foreign Awards (Recognition and Enforcement) Act, 1961, which dealt with the enforcement of foreign arbitral awards.
Step 2: Conclusion.
The Arbitration Act, 1996 repeals all these previous laws, creating a unified legal framework for arbitration in India.