20   Arbitral award

(1)  An action on a cause of action to enforce an award of an arbitrator is not maintainable if brought after the expiration of the limitation period fixed by subsection (2) running from the date on which the cause of action first accrues to the plaintiff or to a person through whom the plaintiff claims.

(2)  The limitation period for the purposes of subsection (1) is:

(a)  where the award is made under an arbitration agreement and the arbitration agreement is made by deed—twelve years, and

(b)  in any other case—six years.

(3)  For the purposes of this section a cause of action to enforce an award of an arbitrator accrues on the date on which default first happens in observance of the award, being the default in respect of which the action is brought.

(4)  In this section, arbitration agreement means an agreement to refer present or future differences to arbitration, whether an arbitrator is named in the agreement or not.

(5)  This section applies to an award of an arbitrator under any Act regulations rules by-laws order or scheme, but applies to such an award subject to the provisions of the Act regulations rules by-laws order or scheme.