512. Seat of the arbitration.

For the purposes of Part I of the Arbitration Act 19961, the 'seat of the arbitration'2 means the juridical seat of the arbitration3 designated by:

  1.  

    (1)     the parties to the arbitration agreement4; or

  2.  

    (2)     any arbitral or other institution or person vested by the parties with powers in that regard

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