A statutory arbitration clause that does not comply with Article 34 of Legislative Decree No. 5/2003, by failing to provide for the appointment of arbitrators by a third party external to the company, is null and void.
The ‘dual-track’ theory, according to which an invalid corporate arbitration clause could be converted into a common-law arbitration clause, must be rejected. The nullity prescribed by Article 34 of Legislative Decree No. 5/2003 is intended to safeguard the public-policy principle of the impartiality of the adjudicating body.