Section 21: Interim measures by Tribunal

21. Interim measures by Tribunal (1) Unless otherwise agreed by the parties, the arbitral tribunal may, at the request of a party, grant interim measures, in the form of an award or in another form, by which, at any time before making the award by which the dispute is finally decided, the arbitral tribunal orders a party to— (a) maintain or restore the status quo pending determination of the dispute; (b) take action that would prevent, or refrain from taking action that is likely to cause current or imminent harm or prejudice to the arbitral process itself; (c) provide a means of preserving assets out of which a subsequent award may be satisfied; (d) preserve evidence that may be relevant and material to the resolution of the dispute; or (e) provide security for costs. I15A – 13 [Issue 2] International Arbitration Act (2) The party requesting an interim measure under subsection (1) (a), (b) or (c) shall satisfy the arbitral tribunal that— (a) harm not adequately reparable by an award of damages is likely to result if the measure is not ordered, and such harm substantially outweighs the harm that is likely to result to the party against whom the measure is directed if the measure is granted; and (b) there is a reasonable possibility that the requesting party will succeed on the merits of the claim. (3) With regard to a request for an interim measure under subsection (1) (d) or (e), the requirements in subsection (2) shall apply only to the extent the arbitral tribunal considers appropriate. (4) The arbitral tribunal’s determination of the existence of a reasonable possibility of success on the merits under subsection (2) (b) shall not affect the arbitral tribunal’s independence and impartiality, or its power to make any subsequent determination of the merits. (5) The arbitral tribunal may modify, suspend or terminate an interim measure it has granted on application of any party or, in exceptional circumstances and on prior notice to the parties, on the arbitral tribunal’s own initiative. (6) The arbitral tribunal may require the party requesting an interim measure to provide appropriate security in connection with the measure. (7) The arbitral tribunal may require any party promptly to disclose any material change in the circumstances on the basis of which the measure was requested or granted. (8) The arbitral tribunal may, at any time in the arbitral proceedings, order the party who requested the interim measure to pay damages and costs to another party where the arbitral tribunal determines that, in the circumstances, the measure requested should not have been granted.