An application for an order may be made—
by any party to the arbitral proceedings (upon notice to the other parties and to the tribunal), or
by the arbitral tribunal (upon notice to the parties).
The court shall not exercise its power to extend a time limit unless it is satisfied—
that any available recourse to the tribunal, or to any arbitral or other institution or person vested by the parties with power in that regard, has first been exhausted, and
that a substantial injustice would otherwise be done.
The court's power under this section may be exercised whether or not the time has already expired.
An order under this section may be made on such terms as the court thinks fit.
The leave of the court is required for any appeal from a decision of the court under this section.