(1) The Registrar may, on receipt of the reference of dispute under section 70 –
(a) decide the dispute himself, or
(b) transfer it for disposal to any person who has been invested by the Government with powers in that behalf, or (c ) refer it for disposal to an arbitrator.
(2) The method, manner of selection, appointment of arbitrators, their qualifications, terms and conditions of appointment and fees payable to them shall be as prescribed under the rules.
(3) (a) For selecting persons for appointment as arbitrators, the Government shall constitute a selection committee which shall consist of the following, namely :-
(i) Minister in charge of the Department of Co-operative Societies – Chairman
(ii) One elected member of the Delhi Legislative Assembly - Member
(iii) Secretary (Cooperation) to the Government - Member
(iv) Secretary (Law & Justice) to the Government - Member
(v) Registrar, Cooperative Societies - Member
(b) All decisions of the selection committee shall be taken by majority.
(4) The Registrar may withdraw any reference under clause (b) of sub-section (1) or referred under clause (c) of sub-section (1) and decide it himself or refer the same to another arbitrator for decision.
(5) The Registrar or any other arbitrator to whom a dispute is referred for decision under this section may, pending the decision of the dispute, make such interlocutory orders as he may deem necessary in the interest of justice.
(Substituted vide Notification No. F.14(31)/LA-2004/16 dated 17/01/2005) Power of financing bank and federal co-operative society to proceed.