In 2022, the
Administrative Council of the International Centre for Settlement of
InvestmentDisputes (ICSID) amended ICSID’s
regulations and rules with the changes having come into effect on 1 July 2022.
While the amendments are more in the nature of calibrations rather than an
overhaul, they are the most extensive amendments that have been made to ICSID’s regulations and rules to date. This article focuses on the
salient amendments and features of the ICSID Arbitration Rules. Following a
brief contextual discussion of earlier amendments to ICSID’s regulations and rules, the process leading up to the
amendments, and the desired objectives of the amendments, the article
highlights some of the key changes that have been made to the Arbitration Rules
as part of the 2022 amendments and concludes with some brief observations in
light of the desired objectives of the amendments.