Commonwealth Consolidated Acts

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INTERNATIONAL ARBITRATION ACT 1974 - SECT 23K

Security for costs

             (1)  An arbitral tribunal may, at any time before the award is issued by which a dispute that is arbitrated by the tribunal is finally decided, order a party to the arbitral proceedings to pay security for costs.

             (2)  However, the tribunal must not make such an order solely on the basis that:

                     (a)  the party is not ordinarily resident in Australia; or

                     (b)  the party is a corporation incorporated or an association formed under the law of a foreign country; or

                     (c)  the party is a corporation or association the central management or control of which is exercised in a foreign country.

             (3)  The provisions of the Model Law apply in relation to an order under this section in the same way as they would apply to an interim measure under the Model Law.



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