The board should state procedures for "defining, monitoring and enforcing the company's policies regarding representations to investors," it said.
The quantities and relationships between quantities in the problem context are described rather than only stating procedures or numerical calculations used to obtain an answer to a problem.
With the increased use of the Case Stated procedure, more calls for reform came.
The second form of judicial oversight was found in Section 21, and was an application of the "Case Stated" procedure.
The traditional English emphasis on judicial oversight, therefore, meant that with the Case Stated procedure, London was a highly unpopular venue for arbitration.
This was intended to ensure that any new Act of Parliament fulfilled two roles – firstly, decreasing the use of the Case Stated procedure, and secondly, encouraging arbitrators to give reasons for their decisions.
Prior to 1979, arbitration law was based on the Arbitration Act 1950, which allowed use of the "Case Stated" procedure and other methods of judicial intervention, which marked English arbitration law as significantly different from that of other jurisdictions.
By the 1960s, even before the increase of abuse of the Case Stated procedure, the United Kingdom was estimated to be losing £500 million a year through the movement of arbitration business to other countries.
Just as Johnsdotter & Essén [ 27] stated: "… procedures involving genital modifications are intertwined with political considerations.
