Section 5 Act not to apply to certain agreements.

This Act shall not apply to any agreement, made before its passing, to refer to an arbiter not named or to be named by another person or merely described as the holder for the time being of an office or appointment, if any party to such agreement shall, before the passing of this Act, or within six months thereafter, have intimated to the other party by writing that he declines to be bound by such agreement.