1 Where the parties to a contract have agreed in writing that disputes in relation to that contract shall be referred to arbitration under Hong Kong International Arbitration Centre Securities Arbitration Rules (hereinafter called the "Rules"), then such disputes shall be settled in accordance with these Rules or such amended Rules as Hong Kong International Arbitration Centre (hereinafter called "HKIAC") may have adopted to take effect before the commencement of the arbitration. The Rules are subject to such modification as the parties may agree in writing.