16.— (1) Where the parties to an arbitration agreement so agree—

(a) arbitral proceedings shall be consolidated with other arbitral proceedings, including arbitral proceedings involving a different party or parties with the agreement of that party or parties,

(b) concurrent hearings shall be held,

on such terms as may be agreed between the parties concerned.

(2) The arbitral tribunal shall not order the consolidation of proceedings or concurrent hearings unless the parties agree to the making of such an order.