(1) Where a foreign State is a party to an agreement to submit a dispute to arbitration, then, subject to any inconsistent provision in the agreement, the foreign State is not immune in a proceeding for the exercise of the supervisory jurisdiction of a court in respect of the arbitration, including a proceeding:
(a) by way of a case stated for the opinion of a court;
(b) to determine a question as to the validity or operation of the agreement or as to the arbitration procedure; or
(c) to set aside the award.
(2) Where:
(a) apart from the operation of subparagraph 11(2)(a)(ii), subsection 12(4) or subsection 16(2), a foreign State would not be immune in a proceeding concerning a transaction or event; and
(b) the foreign State is a party to an agreement to submit to arbitration a dispute about the transaction or event;
then, subject to any inconsistent provision in the agreement, the foreign State is not immune in a proceeding concerning the recognition as binding for any purpose, or for the enforcement, of an award made pursuant to the arbitration, wherever the award was made.
(3) Subsection ( 1) does not apply where the only parties to the agreement are any 2 or more of the following:
(a) a foreign State;
(b) the Commonwealth;
(c) an organisation the members of which are only foreign States or the Commonwealth and one or more foreign States.