Abstract
This study addressed the legal provisions governing the arbitration procedures in the securities disputes at Amman Stock Exchange. It identified the legal procedures for activating the dispute by one of the parties to the dispute, the procedures for forming the arbitration tribunal, consideration of the arbitration case by this tribunal, and then issuing the ruling in the arbitration case. This study adopted a descriptive analytical approach to achieve its objectives. The study concludes that the Jordanian legal system has dealt with disputes arising from the trading of securities in the Amman Stock Exchange in acceptable manner, However, it would be preferable to amend paragraph A of Article 18 of “Instructions of Dispute Resolution through Arbitration at Amman Stock Exchange for the year 2018” concerning the manner of decision-making in the event that the arbitration tribunal does not reach a decision unanimously or by majority, where these instructions state that the president of Arbitration Tribunal shall solely issue the award. While it would have been better if it had provided for the formation of a new arbitration tribunal. Keywords: Arbitration Procedures, Securities Disputes, Amman Stock Exchange, arbitration Tribunal, arbitral case. DOI : 10.7176/JLPG/85-18 Publication date :May 31 st 2019
Highlights
An arbitral conflict starts when one side of the conflict demands of arbitration procedures applies to Amman Stock Exchange secretary that he has the desire to resort to arbitration, which is the first point in the process of arbitration conflict whether there is a previous agreement among the conflict parties where the held securities agreement ensures that there is an arbitral condition be resort to when there is a conflict, or the parties agreed to hold a conditional arbitration after the conflict arises
To identify how to start arbitration procedures in Amman Stock Exchange beside viewing of conflict and ending with breaking it by jury based on instructions of conflicts solutions in stock exchange, and explaining the extent of arbitration process correspondence with Jordanian arbitration law, we will deal in this study the arbitration conflict progress in Amman Stock Exchange in addition to ending of the arbitration procedures in stock exchange
1.1 Problem Statement The study problem lies in one major question which is : “How legal regulation of arbitration procedures is completed in securities of Amman Stock Exchange ? Many questions branch from the major question which are the following: 1. How arbitration conflict progress is completed in Amman Stock Exchange? 2
Summary
An arbitral conflict starts when one side of the conflict demands of arbitration procedures applies to Amman Stock Exchange secretary that he has the desire to resort to arbitration, which is the first point in the process of arbitration conflict whether there is a previous agreement among the conflict parties where the held securities agreement ensures that there is an arbitral condition be resort to when there is a conflict, or the parties agreed to hold a conditional arbitration after the conflict arises. The Jordanian legislator issued ( Instructions for Conflicts Solutions in Amman Stock Exchange of 2018), issued based on rulings of the article (24/B/7) of the internal system of Amman Stock exchange of 2004, and worked as of 1/9/2004 which was a step by the legislator to break up conflicts arise in stock exchange to arbitration. To identify how to start arbitration procedures in Amman Stock Exchange beside viewing of conflict and ending with breaking it by jury based on instructions of conflicts solutions in stock exchange, and explaining the extent of arbitration process correspondence with Jordanian arbitration law, we will deal in this study the arbitration conflict progress in Amman Stock Exchange in addition to ending of the arbitration procedures in stock exchange. 1.1 Problem Statement The study problem lies in one major question which is : “How legal regulation of arbitration procedures is completed in securities of Amman Stock Exchange ? How arbitration procedures ending are ended in Amman Stock Exchange?
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