In force2024 Revised EditionCurrent version · 2024 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
International Arbitration Act · 2024 Revised Edition · Part · International Commercial Arbitration
International Arbitration Act · 2024 Revised Edition · Part · International Commercial Arbitration
Official textFrom Attorney General's Chambers, unchanged
Where a court stays proceedings under section 6, it may, if in those proceedings property has been arrested or bail or other security has been given to prevent or obtain release from arrest, order —
that the property arrested be retained as security for the satisfaction of any award made on the arbitration; or
that the stay be conditional on the provision of equivalent security for the satisfaction of any such award.
Subject to Rules of Court and to any necessary modifications, the same law and practice apply in relation to property retained in pursuance of an order under this section as would apply if it were held for the purposes of proceedings in the court which made the order.
award
“award” means a decision of the arbitral tribunal on the substance of the dispute and includes any interim, interlocutory or partial award, but excludes any orders or directions made under section 15;