(1) Where:
(1A) Where:
(2) The reference to arbitration must be made to persons appointed, in accordance with subsection (3), for the purposes of the reference and the agreed arbitration law applies in relation to the reference. (2A) Parties to the arbitration may agree on the State or Territory whose law is to govern the arbitration. The agreed arbitration law is the law of that State or Territory relating to commercial arbitration. (3) The participating exchange must appoint, or the participating exchanges must jointly appoint, as the case requires, for the purposes of the reference to arbitration, 3 persons whose appointment under this subsection has been approved in writing by the Minister and at least 2 of whom are neither members of a participating exchange nor officers or employees of SEGC, of a participating exchange, or of a member organisation of a participating exchange. (7) In this section: