s 11 Application of Limitation Act 1959 and Foreign Limitation Periods Act 2012
11.—(1) The Limitation Act 1959 and the Foreign Limitation Periods Act 2012 apply to arbitral proceedings as they apply to proceedings before any court and any reference in both Acts to the commencement of proceedings is to be construed as a reference to the commencement of arbitral proceedings.[13/2012] (2) The Court may order that in computing the time prescribed by the Limitation Act 1959 or the Foreign Limitation Periods Act 2012 for the commencement of proceedings (including arbitral proceedings) in respect of a dispute which was the subject matter of —(a) an award which the Court orders to be set aside or declares to be of no effect; or (b) the affected part of an award which the Court orders to be set aside in part or declares to be in part of no effect, the period between the commencement of the arbitration and the date of the order referred to in paragraph (a) or (b) is to be excluded. [13/2012] (3) Despite any term in an arbitration agreement to the effect that no cause of action is to accrue in respect of any matter required by the agreement to be referred until an award is made under the agreement, the cause of action is deemed, for the purposes of the Limitation Act 1959 and the Foreign Limitation Periods Act 2012, to have accrued in respect of any such matter at the time when it would have accrued but for that term in the agreement.[13/2012]