4.Effect of foreign awards:- (1) A foreign award shall, subject to the provisions of this Act, be enforceable in {Subs.by Act 3 of 1951, s.3 and Sch, for "the States".} [India] as if it were an award made on a matter referred to arbitration in {Subs.by Act 3 of 1951, s.3 and Sch, for "the States".} [India] (2) Any foreign award which would be enforceable under this Act shall be treated as binding for all purposes on the persons as between whom it was made, and may accordingly be relied on by any of those persons by way of defense, set off or otherwise in any legal proceedings in {Subs.by Act 3 of 1951, s.3 and Sch, for "the States".} [India] , and any references in this Act to enforcing a foreign award shall be construed as including references to relying on an award.