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ARBITRATION AND CONCILIATION ACT, 1996 -

53. Interpretation

-In this Chapter “foreign award” means an arbitral award on 
differences relating to matters considered as commercial under the law in force in 
India made after the 28th day of July, 1924, - 
 
(a) In pursuance of an agreement for arbitration to which the Protocol set 
forth in the Second Schedule applies, and 
 
(b) Between persons of whom one is subject to the jurisdiction of some one of 
such Powers as the Central Government, being satisfied that reciprocal 
provisions have been made, may, by notification in the Official Gazette, 
declare to be parties to the Convention set forth in the Third Schedule, and 
of whom the other is subject to the jurisdiction of some other of the 
Powers aforesaid, and 
 
(c) In one of such territories as the Central Government, being satisfied that 
reciprocal provisions have been made, may, by like notification, declare to 
be territories, to which the said Convention applies, And for the purposes 
of this Chapter an award shall not be deemed to be final if any proceedings 
for the purpose of contesting the validity of the award are pending in the 
country in which it was made

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