A court that has jurisdiction under this Act may, on application by a party to relevant property or financial arbitration, make orders the court thinks appropriate to facilitate the effective conduct of the arbitration. (legislation.gov.au)
(2) If the court makes an order under subsection (1), it may, if necessary, adjourn the proceedings and may make any additional orders as it thinks appropriate to facilitate the effective conduct of the arbitration. (legislation.gov.au)
It can assert authority over the party being funded (or seeking funding) in connection with their conduct of the arbitration, but it has no authority over the funder (or prospective funder) unless it agrees to be bound by the arbitration agreement and the Tribunal's decisions. (slaw.ca)