As per the Arbitration and Conciliation Amendment Act 2015 who among the following can become the Ch...........

Indian Polity Judiciary

As per the Arbitration and Conciliation (Amendment) Act, 2015, who among the following can become the Chairperson of the Arbitration Council of India (ACI)?

Judge of the Supreme Court
Chief Justice of a High Court
Judge of a High Court
An eminent person with expert knowledge in conduct of arbitration

Select the correct answer using the codes given below:

1,2&4 only

2,3&4 only

1&4 only

All of the above

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Explanation:

The Arbitration and Conciliation Act, 1996 was amended by the Arbitration and Conciliation (Amendment) Act, 2015 in order to make arbitration process user-friendly, cost-effective and ensure speedy disposal and neutrality of arbitrators.
The Amendment Act seeks to a new Part to the Act of 1996 for the establishment and incorporation of an independent body namely, the Arbitration Council of India (ACI) for the purpose of grading of arbitral institutions and accreditation of arbitrators, etc.
As per the Act, ACI will be headed by a Chairperson, who has been a Judge of the Supreme Court or a Chief Justice or Judge of a High Court or an eminent person, having special knowledge and experience in the conduct or administration of arbitration, to be appointed by the Centre in consultation with the Chief Justice of India.
Besides, it will also have two Full-time Members from amongst eminent arbitration practitioners and academicians.
In addition, one representative of a recognized body of commerce and industry shall be nominated on a rotational basis as a Part-time Member.
The Secretary, Department of Legal Affairs, Secretary Department of Expenditure and Chief Executive Officer, ACI will be ex-officio Members.