Section 3Part 1 — PRELIMINARY
Application of this Law and general principles
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The provisions of this Law apply where the seat of the arbitration is in the Islands.
The provisions of this Law apply to every arbitration under any other enactment whether enacted before or after the commencement of this Law, except in so far as —
this Law is inconsistent with that other enactment or with any rules or procedures authorised thereunder; or
that other enactment otherwise provides.
The provisions of this Law are founded on the following principles, and shall be construed accordingly —
the object of arbitration is to obtain the fair resolution of disputes by an impartial arbitral tribunal without undue delay or undue expense;
the parties should be free to agree how their disputes are resolved, subject only to such safeguards as are necessary in the public interest; and
in matters governed by this Law the court should not intervene except as provided in this Law.