New South Wales Consolidated Regulations

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Withdrawal of acceptance

47.16 Withdrawal of acceptance

(cf SCR Part 72A, rule 17)

(1) A party who accepts an offer may, by serving a notice of withdrawal on the offeror, withdraw the acceptance if--
(a) the offer provides for payment of a sum of money or the doing of any other act, and
(b) the sum is not paid to the offeree, or the act is not done, within 28 days after acceptance of the offer or within such other time as the offer provides.
(2) On withdrawal of an acceptance all steps in the arbitration taken in consequence of the acceptance have such effect only as the arbitrator may direct.
(3) On withdrawal of an acceptance the arbitrator--
(a) may give directions under subrule (2), and
(b) may give directions for restoring the parties as nearly as may be to their positions at the time of the acceptance, and
(c) may give directions for the further conduct of the arbitration.

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