33D—Costs of abortive arbitration
(1) Unless otherwise
agreed in writing by the parties, if an arbitration is commenced but for any
reason fails, the Court may, on the application of a party or the
arbitral tribunal made within 6 months after the failure of the
arbitration, make such orders in relation to the costs of the arbitration as
it thinks just.
(2) For the purposes
of this section, an arbitration is taken to have failed if—
(a) a
final award is not made by the arbitral tribunal before the arbitration
terminates; or
(b) an
award made is wholly set aside by the Court.
(3) If the failed
arbitration is a related proceeding (within the meaning of section 27C),
the Court may stay proceedings on the application under subsection (1)
pending the determination of the other arbitration proceedings to which the
failed arbitration is related.
Note—
There is no equivalent to this section in the Model Law.