Queensland Consolidated Acts Queensland Consolidated Acts(1) Subject to subsection (3), if an award or a question of law arising in the course of an arbitration relates, in whole or in part, to--
(a) a question or claim falling within the admiralty jurisdiction of the Supreme Court; or
(b) a dispute arising out of a contract of insurance; or
(c) a dispute arising out of a commodity contract;
an exclusion agreement shall have no effect in relation to the award or question unless either--
(d) the exclusion agreement is entered into after the commencement of the arbitration in which the award is made or, as the case requires, in which the question of law arises; or
(e) the award or question relates to a contract which is expressed to be governed by a law other than the law of Queensland.
(2) In subsection (1)(c)--
"commodity contract" means a contract--
(a) for the sale of goods regularly dealt with on a commodity market or exchange in Queensland which is specified for the purposes of this section under a regulation; and
(b) of a description specified for the purposes of this section under a regulation.
(3) A regulation may provide that subsection (1)--
(a) shall cease to have effect; or
(b) subject to such conditions as may be specified in the regulation, shall not apply to any exclusion agreement made in relation to an award of a description specified in the regulation; and
a regulation made under this subsection may contain such supplementary, incidental and transitional provisions as appear to the Governor in Council to be necessary.