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Avoidance of certain provisions excluding liability for misrepresentation.
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46.—(1) If any agreement (whether made before or after the commencement of this Act) contains a provision which would exclude or restrict—
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(a) any liability to which a party to a contract may be subject by reason of any misrepresentation made by him before the contract was made, or
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(b) any remedy available to another party to the contract by reason of such a misrepresentation,
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that provision shall not be enforceable unless it is shown that it is fair and reasonable.
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(2) Subsection (1) shall not affect any right to refer a difference to arbitration.
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