Section 9

by substituting for subsection (1) the following subsection:

“(1)  The arbitral tribunal shall decide the dispute in accordance with such rules of law as are chosen by the parties as applicable to the substance of the dispute.”;

by deleting subsection (2);

in subsection (3), by substituting for the words “Any designation by the parties of the law” the words “Any designation of the law or legal system”;

by substituting for subsection (4) the following subsection:

“(4)  Failing any designation by the parties, the arbitral tribunal shall apply the law determined by the conflict of laws rules which it considers applicable.”;

and

by inserting after subsection (4) the following subsection:

“(4a)  The arbitral tribunal shall decide according to equity and conscience only if the parties have expressly authorized it to do so.”.

Arbitration (Amendment) (No. 2)

13

Amendment of section 33