SCHEDULE 1 - Savings and Transitional Provisions

Section 42

1.    Regulations

(1) The regulations may contain provisions of a savings or transitional nature consequent on the enactment of this Act.

(2) Any such provision may, if the regulations so provide, take effect from the date on which this Schedule commences or a later date.

2.    Savings and transitional provisions

(1) Subject to subclause (2)  –

(a) this Act applies to an arbitration agreement (whether made before or after the commencement of this Schedule) and to an arbitration under such an agreement; and

(b) a reference in an arbitration agreement to the Commercial Arbitration Act 1986 , or a provision of that Act, is to be construed as a reference to this Act or to the corresponding provision (if any) of this Act.

(2) If an arbitration was commenced before the commencement of this Schedule, the law governing the arbitration and the arbitration agreement is to be that which would have been applicable if this Act had not been enacted.

(3) For the purposes of this clause, an arbitration is taken to have been commenced if –

(a) a dispute to which the relevant arbitration agreement applies has arisen; and

(b) the arbitral tribunal has been properly constituted.