1CParamount object of Act

#### 1C Paramount object of Act 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 quickly. > > > (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](/view/html/inforce/current/act-1987-015) for the purposes of interpreting this Act.