The Limitation Acts1 apply to arbitral proceedings as they apply to legal proceedings2. The court3 may order that, in computing the time prescribed by the Limitation Acts for the commencement of proceedings, including arbitral proceedings4, in respect of a dispute5 which was the subject matter of6:
(1) an award which the court orders to be set aside or declares to be of no effect7; or
(2) the affected part of an award which the court orders to be set aside in part, or declares to be in part of no effect
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