(1) Recourse to the
Court against an arbitral award may be made only by an application for setting
aside in accordance with subsections (2) and (3) or by an appeal under
section 34A.
Note for this subsection:
The Model Law does not
provide for appeals as under section 34A.
(2) An arbitral award
may be set aside by the Court only if —
(a) the
party making the application furnishes proof that —
(i)
a party to the arbitration agreement referred to in
section 7 was under some incapacity, or the arbitration agreement is not valid
under the law to which the parties have subjected it or, failing any
indication in it, under the law of this State; or
(ii)
the party making the application was not given proper
notice of the appointment of an arbitral tribunal or of the arbitral
proceedings or was otherwise unable to present the party’s case; or
(iii)
the award deals with a dispute not contemplated by or not
falling within the terms of the submission to arbitration, or contains
decisions on matters beyond the scope of the submission to arbitration,
provided that, if the decisions on matters submitted to arbitration can be
separated from those not so submitted, only that part of the award which
contains decisions on matters not submitted to arbitration may be set aside;
or
(iv)
the composition of the arbitral tribunal or the arbitral
procedure was not in accordance with the agreement of the parties, unless such
agreement was in conflict with a provision of this Act from which the parties
cannot derogate, or, failing such agreement, was not in accordance with this
Act;
or
(b) the
Court finds that —
(i)
the subject matter of the dispute is not capable of
settlement by arbitration under the law of this State; or
(ii)
the award is in conflict with the public policy of this
State.
(3) An application for
setting aside may not be made after 3 months have elapsed from the date on
which the party making that application had received the award or, if a
request had been made under section 33, from the date on which that request
had been disposed of by the arbitral tribunal.
(4) The Court, when
asked to set aside an award, may, where appropriate and so requested by a
party, suspend the setting aside of proceedings for a period of time
determined by it in order to give the arbitral tribunal an opportunity to
resume the arbitral proceedings or to take such other action as in the
arbitral tribunal’s opinion will eliminate the grounds for setting
aside.