79 Power of court to extend time limits relating to arbitral proceedings.E+W+N.I.
(1)Unless the parties otherwise agree, the court may by order extend any time limit agreed by them in relation to any matter relating to the arbitral proceedings or specified in any provision of this Part having effect in default of such agreement.
This section does not apply to a time limit to which section 12 applies (power of court to extend time for beginning arbitral proceedings, &c.).
(2)An application for an order may be made—
(a)by any party to the arbitral proceedings (upon notice to the other parties and to the tribunal), or
(b)by the arbitral tribunal (upon notice to the parties).
(3)The court shall not exercise its power to extend a time limit unless it is satisfied—
(a)that any available recourse to the tribunal, or to any arbitral or other institution or person vested by the parties with power in that regard, has first been exhausted, and
(b)that a substantial injustice would otherwise be done.
(4)The court’s power under this section may be exercised whether or not the time has already expired.
(5)An order under this section may be made on such terms as the court thinks fit.
(6)The leave of the court is required for any appeal from a decision of the court under this section.