Commercial Arbitration Act 2010 No 61
1C Paramount object of Act
(1) The paramount object of this Act is to facilitate the fair and
final resolution of commercial disputes by impartial arbitral tribunals
without unnecessary delay or expense.
(2) This Act aims to achieve its paramount object by:
(a) enabling parties to agree about how their commercial disputes are
to be resolved (subject to subsection (3) and such safeguards as are necessary
in the public interest), and
(b) providing arbitration procedures that enable commercial disputes
to be resolved in a cost effective manner, informally and
(3) This Act must be interpreted, and the functions of an arbitral
tribunal must be exercised, so that (as far as practicable) the paramount
object of this Act is achieved.
(4) Subsection (3) does not affect the application of section 33 of
the Interpretation Act 1987
for the purposes of interpreting this Act.