Unfair Arbitration Agreements (Specified Amount) Order (Northern Ireland) 2005
This Order specifies the amount of £5,000 (“the new amount”) for the purposes of section 91 of the Arbitration Act 1996 (“the 1996 Act”) for Northern Ireland. This Order also revokes and replaces the Unfair Arbitration Agreements (Specified Amount) Order (Northern Ireland) 1996 which specified the amount of £3,000 (“the old amount”). However the new amount will only apply in relation to any arbitration agreement entered into after this Order comes into operation. The old amount will continue to apply in relation to any arbitration agreement entered into before that date.