sec.1ACParamount object of Act

### sec.1AC Paramount object of Act 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. This Act aims to achieve its paramount object by— 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 providing arbitration procedures that enable commercial disputes to be resolved in a cost-effective manner, informally and quickly. 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. Subsection (3) does not affect the application of the Acts Interpretation Act 1954 , section 14A for the purposes of interpreting this Act. (sec.1AC-ssec.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. (sec.1AC-ssec.2) This Act aims to achieve its paramount object by— 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 providing arbitration procedures that enable commercial disputes to be resolved in a cost-effective manner, informally and quickly. (sec.1AC-ssec.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. (sec.1AC-ssec.4) Subsection (3) does not affect the application of the Acts Interpretation Act 1954 , section 14A for the purposes of interpreting this Act. - (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.