Summary
Amends the International Arbitration Act 1974 to: apply most of the amendments made by the United Nations Commission on International Trade Law in 2006 to the Model Law on International Commercial Arbitration to international commercial arbitration in Australia; confine the circumstances in which courts can set aside an award made under the Model Law or refuse to enforce foreign awards under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards and the Model Law; include additional optional provisions to be made available to the parties to an arbitration agreement; include a regulation making power; and make general amendments in relation to the operation of the Act.