(2) The arbitral tribunal shall issue an order for the termination of the arbitral proceedings when:

(a) the claimant withdraws his claim, unless the respondent objects and the arbitral tribunal recognises a legitimate interest on his part in obtaining a final settlement of the dispute;

(b) the parties agree on the termination of the proceedings; or

(c) the arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible.

(3) The mandate of the arbitral tribunal terminates with the termination of the arbitral proceedings, subject to the provisions of paragraph (5) of this Article and of Articles 43 and 44(4).

(4) The arbitral tribunal may refuse to deliver a final award or an order for termination of the arbitral proceedings in accordance with paragraph (2) of this Article to the parties until its fees and expenses are paid in full.

(5) Subject to any process agreed between the parties in the arbitration agreement, if the arbitral tribunal refuses to deliver an award or order to the parties until its fees and expenses are paid, a party to the arbitral proceedings may apply to the AIFC Court of First Instance which may:

(a) order the arbitral tribunal to deliver the award or order on the payment into the AIFC Court of First Instance by the applicant of the fees and expenses demanded, or such lesser sum as the AIFC Court of First Instance may specify;

(b) determine, by such means as the AIFC Court of First Instance considers appropriate, the amount of fees and expenses properly payable; and

(c) out of the money paid into the AIFC Court of First Instance there shall be paid out such fees and expenses as may be found to be properly payable and the balance of the money (if any) shall be paid out to the applicant.

43. Correction and interpretation of award; additional award

(1) Within thirty days of receipt of the award, unless another period of time has been agreed upon by the parties:

(a) a party, with notice to the other party, may request the arbitral tribunal to correct in the award any errors in computation, any clerical or typographical errors or any errors of a similar nature;

(b) if agreed by the parties, a party, with notice to the other party, may request the arbitral tribunal to give an interpretation of a specific point or part of the award.

If the arbitral tribunal considers the request to be justified, it shall make the correction or give the interpretation within thirty days of receipt of the request. The interpretation shall form part of the award.

(2) The arbitral tribunal may correct any error of the type referred to in paragraph (1)(a) of this Article on its own initiative within thirty days of the date of the award.

(3) Unless otherwise agreed by the parties or in respect of an agreed award made under Article 40, a party, with notice to the other party, may request, within thirty days of receipt of the award, the arbitral tribunal to make an additional award as to claims presented in the arbitral proceedings but omitted from the award. If the arbitral tribunal considers the request to be justified, it shall make the additional award within sixty days.

(4) The arbitral tribunal may extend, if necessary, the period of time within which it shall make a correction, interpretation or an additional award under paragraph (1) or (3) of this Article.

(5) The provisions of Article 41 shall apply to a correction or interpretation of the award or to an additional award.

CHAPTER 7: RECOURSE AGAINST AWARD

44. Application for setting aside as exclusive recourse against arbitral award

(1) Recourse to a court against an arbitral award made in the seat of the AIFC may be made only by an application for setting aside in accordance with paragraphs (2) and (3) of this Article.

(2) Such application may only be made to the AIFC Court. An arbitral award may be set aside by the AIFC Court only if:

(a) the party making the application furnishes proof that:

(і) a party to the arbitration agreement was under some incapacity; or the said agreement is not valid under the law to which the parties have subjected it or, in the absence of any indication, under the law of the AIFC;

(ii) the party making the application was not given proper notice of the appointment of an arbitrator or the arbitral proceedings or was otherwise unable to present his case;

(iii) the award deals with a dispute not contemplated by or not falling within the terms of the submission to arbitration, or contains decisions on matters beyond the scope of the submission to arbitration, provided that, if the decisions on matters submitted to arbitration can be separated from those not so submitted, only that part of the award which contains decisions on matters not submitted to arbitration may be set aside; or

(iv) the composition of the arbitral tribunal or the arbitral procedure was not in accordance with the agreement of the parties, unless such agreement was in conflict with a provision of these Regulations from which the parties cannot derogate, or, in the absence of such agreement, was not in accordance with these Regulations; or

(b) the AIFC Court finds that:

(і) the subject matter of the dispute is not capable of settlement by arbitration under AIFC law; or

(ii) the award is in conflict with the public policy of the Republic of Kazakhstan.

(3) An application for setting aside may not be made after three months have elapsed from the date on which the party making that application had received the award, or such longer period as the parties to the arbitration have agreed in writing, or, if a request had been made under Article 43, from the date on which that request had been disposed of by the arbitral tribunal.

(4) The AIFC Court, when asked to set aside an award, may, where appropriate and requested by a party, suspend the setting aside proceedings for a period of time determined by it in order to give the arbitral tribunal an opportunity to resume the arbitral proceedings or to take such other action as in the arbitral tribunal’s opinion will eliminate the grounds for setting aside.

PART 3: RECOGNITION AND ENFORCEMENT OF AWARDS

45. Recognition and enforcement of awards

(1) An arbitral award, irrespective of the State or jurisdiction in which it was made, shall be recognised as binding within the AIFC and, upon application in writing to the AIFC Court, shall be enforced within the AIFC subject to the provisions of this Article and of Articles 46 and 47. For the avoidance of doubt, where the Republic of Kazakhstan has entered into an applicable treaty for the mutual enforcement of judgments, orders or awards, the AIFC Court shall comply with the terms of such treaty.

(2) The party relying on an award or applying for its enforcement shall supply the original award or duly certified copy and the original arbitration agreement referred to in Article 15 or a duly certified copy. If the award or the agreement is not made in English, the AIFC Court may request the party to supply a duly certified translation.

(3) For the purposes of the recognition or enforcement of any award within the AIFC, an original award or an original arbitration agreement shall be duly certified if it is a copy that is certified in the manner required by the laws of the jurisdiction in the place of the arbitration or elsewhere. A translation shall be duly certified if it has been certified as correct by an official or sworn translator in the place of arbitration or elsewhere.

46. Recognition

(1) Where, upon the application of a party for recognition of an arbitral award, the AIFC Court decides that the award shall be recognised, it shall issue an order to that effect.

(2) An order recognising an arbitral award shall be issued in English and Russian or Kazakh, unless the AIFC Court shall determine otherwise. Each language version, in its original or certified copy form, shall constitute sufficient proof of recognition.

47. Grounds for refusing recognition or enforcement

(1) Recognition or enforcement of an arbitral award, irrespective of the State or jurisdiction in which it was made, may be refused by the AIFC Court only:

(a) at the request of the party against whom it is invoked, if that party furnishes to the AIFC Court proof that:

(і) a party to the arbitration agreement as defined in Article 15 of these Regulations was under some incapacity; or the arbitration agreement is not valid under the law to which the parties have subjected it or, in the absence of any indication, under the law of the State or jurisdiction where the award was made;

(ii) the party against whom the award is invoked was not given proper notice of the appointment of an arbitrator or of the arbitral proceedings or was otherwise unable to present his case;

(iii) the award deals with a dispute not contemplated by or not falling within the terms of the submission to arbitration, or it contains decisions on matters beyond the scope of the submission to arbitration, provided that, if the decisions on matters submitted to arbitration can be separated from those not submitted, that part of the award which contains decisions on matters submitted to arbitration may be recognised and enforced;

(iv) the composition of the arbitral tribunal or the arbitral procedure was not in accordance with the agreement of the parties or, in the absence of such agreement, was not in accordance with the law of the State or jurisdiction where the arbitration took place; or

(v) the award has not yet become binding on the parties or has been set aside or suspended by a court of the State or jurisdiction in which, or under the law of which, that award was made; or

(b) if the AIFC Court finds that:

(і) the subject matter of the dispute would not have been capable of settlement by arbitration under the laws of the AIFC; or

(ii) the enforcement of the award would be contrary to the public policy of the Republic of Kazakhstan.

(2) If an application for the setting aside or suspension of an award has been made to a court referred to in paragraph (1)(a)(v) of this Article, the AIFC Court may, if it considers it proper, adjourn its decision and may also, on the application of the party seeking recognition or enforcement of the award, order the other party to provide appropriate security.

(3) Any party seeking recourse against an arbitral award made in the seat of the AIFC shall not be permitted to make an application under paragraph (1)(a) of this Article if it has made or could have made an application under Article 44 of these Regulations.

PART 4: THE INTERNATIONAL ARBITRATION CENTRE

48. Establishment and purpose

An International Arbitration Centre shall be established as an independent legal entity in the AIFC territory pursuant to the AIFC Constitutional Statute, and shall be called «The International Arbitration Centre». It shall provide an independent and expeditious alternative to court litigation to resolve civil and commercial disputes in the AIFC.

49. Functions

The International Arbitration Centre shall provide the following services:

(1) Exclusive administration of arbitrations governed by the International Arbitration Centre Arbitration Rules, subject to the agreement of the parties to a case, and such rules to include procedures for expedited arbitrations, the appointment of emergency arbitrators, and resolution of investment treaty disputes;

(2) Administered arbitrations governed by UNCITRAL Arbitration Rules and ad hoc arbitration rules subject to the agreement of the parties to a case;

(3) Mediations governed by the International Arbitration Centre Mediation Rules and ad hoc mediation rules subject to the agreement of the parties to a case;

(4) Other forms of alternative dispute resolution subject to the agreement of the parties to a case;

(5) Fundholding, to hold and disburse advances in relation to costs associated with use of the International Arbitration Centre’s services and facilities;

(6) An appointment authority, to assist with the appointment of arbitrators and mediators to arbitrations and mediations conducted at the International Arbitration Centre or elsewhere; and

(7) State of the art administrative facilities, including conference, meeting, and hearing rooms, at its premises, to be known as «The International Arbitration Centre Chambers».

50. Administration

(1) The International Arbitration Centre shall have a Chairman who shall be appointed by the Governor normally for a term of 5 years that can be renewed.

(2) The responsibilities of the Chairman may include:

(a) the maintenance and appropriate arrangements for the welfare, training and guidance of the Registrar, deputy Registrars, officials and staff;

(b) preparing and approving strategies, policies and objectives of the International Arbitration Centre, preparing reports on the implementation of these strategies, policies and objectives, and presenting the same to the Governor;

(c) publishing Practice Directions prescribing the fees payable to the International Arbitration Centre in connection to the performance of its functions or the provision of its facilities or the exercise of its powers;

(d) the day to day management of the International Arbitration Centre, its activities, the Registrar, deputy Registrars, officials and staff;

(e) recommending to the Governor the appointment and removal of the Registrar, deputy Registrars, officials and staff of the International Arbitration Centre, for the Governor to approve the appointment and removal, the terms and conditions of appointment and removal, and remuneration; and

(f) all other responsibilities provided in these Regulations, including those with regard to budget and reporting.

(3) The Chairman and Governor may agree any additional operation support for the International Arbitration Centre by the AIFC Authority.

51. Budget and financial reporting

(1) The International Arbitration Centre shall have its own budget formed from the funds of the Republican budget in the form of a targeted transfer in accordance with the budget legislation of the Republic of Kazakhstan. The target transfer received by the International Arbitration Centre from the budget of the AIFC Authority shall be used for the purposes of maintaining and financing activities of the International Arbitration Centre.

(2) For each financial year the Chairman shall submit for approval to the AIFC Authority estimates of the income and expenditure required by the International Arbitration Centre. Such estimates shall include figures relating to levels of remuneration and entitlement to expenses of the Chairman, Registrar, deputy Registrars, officials, staff and agents of the International Arbitration Centre.

(3) The AIFC Authority shall be responsible for processing all payments and procurements of the International Arbitration Centre, and opening, operating and managing bank accounts of the International Arbitration Centre. The AIFC Authority shall also provide any financial reports required by the budget legislation of the Republic of Kazakhstan.

(4) The Chairman shall make all reasonable efforts to spend the funds received by the AIFC Authority for the International Arbitration Centre budget in the performance of the functions of the International Arbitration Centre.

(5) The Chairman shall keep accounting records which are sufficient to show and explain any transactions of the International Arbitration Centre’s transactions that are reasonably accurate and sufficient to disclose at any time the income and expenditure and assets and liabilities and financial position of the International Arbitration Centre.

(6) As soon as reasonably practicable after the end of each financial year the Chairman, in consultation with the Governor, shall prepare and review the International Arbitration Centre’s accounts for the previous year. Those accounts shall be in the form which accords with internationally accepted accounting principles. They shall be audited by independent auditors, being a firm of chartered accountants with an office in the AIFC or Republic of Kazakhstan.

(7) The Chairman shall as soon as reasonably practicable after the end of each financial year send to the Governor and Council an annual report with a copy of the audited accounts of the International Arbitration Centre and a report of its activities for the previous year. The annual report shall give a true and fair view of the state of the operations, cash flows and financial activities of the International Arbitration Centre as at the end of the relevant financial year.

52. Establishment and functions of the Registry and Registrar of the International Arbitration Centre

(1) The Chairman shall establish a Registry.

(2) The Chairman shall recommend to the Governor a person for appointment as Registrar. The appointment shall normally be for a term of five years that can be renewed. The Registrar shall be the Chief Executive of the Registry. The terms and conditions of the Registrar’s appointment and remuneration shall be determined by the Governor in consultation with the Chairman. The Registrar of the International Arbitration Centre and the Registrar of the AIFC Court may be the same person until the Chairman considers it necessary for a separate person to be appointed as Registrar of the International Arbitration Centre.

(3) The Registrar:

(a) shall report directly to the Chairman;

(b) shall be responsible for assisting the Chairman with the day to day management and administration of the International Arbitration Centre; and

(c) shall be responsible for case management of administered cases before the International Arbitration Centre.

(4) The Registrar shall have power to do all things necessary or convenient for the purpose of assisting the Chairman in the exercise of his powers or duties as imposed on him by or under:

(a) the AIFC Constitutional Statute;

(b) these Regulations; or

(c) the AIFC International Arbitration Centre Arbitration and Mediation Rules.

(5) The Registrar shall have such other powers and duties as may be conferred upon him by or under:

(a) the AIFC Constitutional Statute;

(b) these Regulations;

(c) the AIFC International Arbitration Centre Arbitration and Mediation Rules; or

(d) a delegation or direction from the Chairman.

(6) In performing his powers and duties the Registrar shall comply with the directions of the Chairman.

(7) The Chairman shall recommend to the Governor the suspension or removal of the Registrar from office if during the term of office:

(a) he becomes incapable through ill-health of effectively performing the duties of his office;

(b) he is convicted of a criminal offence punishable by imprisonment; or

(c) he has committed misconduct that makes him unfit to continue in office.

(8) The Chairman shall establish a procedure under these Regulations which may be used for the investigation and determination of allegations of misconduct by the Registrar. This procedure may include:

(a) the circumstances in which an investigation must or may be undertaken (on the making of a complaint or otherwise);

(b) the steps to be taken by a complainant before a complaint is to be investigated;

(c) the conduct of an investigation, including steps to be taken by the Registrar under investigation or by a complainant or other person;

(d) the time limits for taking any step and procedures for extending time limits;

(e) the persons by whom an investigation or part of an investigation is to be conducted;

(f) the matters to be determined by the Chairman, the Council, the judicial office holder under investigation or any other person;

(g) the requirements as to records of investigations;

(h) the requirements as to confidentiality of communications of proceedings; and

(і) the requirements as to the publication of information or its provision to any person.

(9) When the Chairman considers it desirable to enable the International Arbitration Centre to perform its duties he may recommend to the Governor the appointment of deputy Registrars and officers to whom the Registrar may delegate any of his responsibilities. Deputy Registrars and officers shall report directly to the Registrar and shall be appointed and removed from office on such terms as are determined by the Governor in consultation with the Chairman.

(10) The Registrar, deputy Registrars, and officers, shall as soon as becoming aware, give written notice to the Chairman of all direct or indirect interests or any conflict of interest that may interfere with the exercise of their duties.

(11) References in these Regulations to the Registrar include deputy Registrars acting under the delegated authority of the Registrar.

53. Immunity

The International Arbitration Centre, the Chairman, any arbitrator, Registrar, deputy Registrar, officer, employee or agent, cannot be held liable for anything done or omitted to be done in the performance or purported performance of the functions, or in the exercise or purported exercise of any powers, under these Regulations, the AIFC Constitutional Statute, AIFC Regulations, the International Arbitration Centre

Arbitration and Mediation Rules, AIFC Rules, Practice Directions or Practice Guides, except if the act or omission is shown to have been done in bad faith.

54. Rules, Practice Directions and Practice Guides

(1) The Arbitration and Mediation Rules of the International Arbitration Centre are to be called «The International Arbitration Centre Arbitration and Mediation Rules». They may be made to govern and provide for practice and procedure to be followed in arbitrations and mediations administered at the International Arbitration Centre subject to agreement of the parties to a case.

(2) The International Arbitration Centre Arbitration and Mediation Rules may provide for any matter of practice or procedure to be made and/or governed by Practice Directions.

(3) The International Arbitration Centre Arbitration and Mediation Rules, Practice Directions and Practice Guides, may be made, amended, repealed, or revoked, by the Chairman only.

(4) The Registrar shall publish the International Arbitration Centre Arbitration and Mediation Rules under this Article, which shall come into force on such day as the Chairman directs.

55. Miscellaneous

(1) The International Arbitration Centre may:

(a) establish any advisory committee as the Chairman deems necessary to assist with the performance of the International Arbitration Centre’s functions;

(b) establish an arbitrator list and arbitrator code of conduct to provide access to arbitrators and the highest standards of arbitrator practice and conduct;

(c) promote the International Arbitration Centre as a hub for the alternative settlement of disputes in the AIFC and internationally;

(d) host conferences, seminars, lectures, and other events relating to the International Arbitration Centre and alternative dispute resolution;

(e) publish books, journals, articles, and papers on alternative dispute resolution and legal issues of interest to the AIFC;

(f) provide training programs on arbitration, mediation, negotiation, and other forms of alternative dispute resolution; and

(g) enter into cooperation agreements with any professional bodies, training organisations, institutions, or societies, located in the Republic of Kazakhstan or elsewhere.

SCHEDULE INTERPRETATION

1. Rules of interpretation:

(1) English is the authoritative language of these Regulations.

(2) In these Regulations, references to:

(a) the masculine includes the feminine or the neuter;

(b) the singular includes the plural, and vice versa; and

(c) a provision of the AIFC Constitutional Statute, an AIFC Regulation, or AIFC Rules, includes a reference to the provision as amended or re-enacted from time to time.

(3) The headings in these Regulations shall not affect the interpretation of these Regulations.

(4) Where a provision of these Regulations, except Article 34, leaves the parties free to determine a certain issue, such freedom includes the right of the parties to authorise a third party, including an institution, to make that determination.

(5) Where a provision of these Regulations refers to the fact that the parties have agreed or that they may agree or in any other way refers to an agreement of the parties, such agreement includes any arbitration rules, including those of any institution, referred to in that agreement.

(6) Where a provision in these Regulations, other than in Articles 35(a) and 42(2)(a), refers to a claim, it also applies to a counter-claim, and where it refers to a defence, it also applies to a defence to such counter-claim.

2. Calculation of periods of time

Time periods specified in these Regulations shall start to run on the day following the day when a notice or communication is received, unless the arbitral tribunal shall specifically provide otherwise. If the last day of any such period is an official holiday or a non-business day at the place where the notice or communication is received, the period shall be extended until the first business day which follows. Official holidays and non-business days occurring during the running of the period of time shall otherwise be included for the purposes of calculating the period.

3. Defined terms

In these Regulations:

AIFC, means the Astana International Financial Centre.

AIFC Constitutional Statute, means the Constitutional Statute on the Astana International Financial Centre 2015.

AIFC Court, means the Court of the Astana International Financial Centre, as established by the AIFC Constitutional Statute 2015 and the AIFC Court Regulations 2017.

AIFC law, means the law of the AIFC as defined in Article 4 of the AIFC Constitutional Statute 2015.

Arbitration, means the resolution of disputes conducted pursuant to an Arbitration Agreement, as defined at Article 15 of these Regulations.

Arbitral tribunal, means a sole arbitrator or a panel of arbitrators.

Calendar year, means a year of the Gregorian calendar.

Council, means the AIFC Management Council.

Court, means any competent court of any State or jurisdiction, including the AIFC Court where applicable.

Day, means a business day, being a normal working day in the AIFC.

Financial year, means 1 January until 31 December of each year.

Governor, means the Governor of the AIFC.

Person, means any natural person, body corporate or body incorporate, including a company, partnership, unincorporated association, government or state.

Seat, means the juridical seat which indicates the procedural law chosen by the parties to govern their arbitration as designated in Article 30 of these Regulations.