(1) For the determination of the matter referred to in sub-section (4) of the last preceding section, the State Government shall appoint three arbitrators of whom one shall be a City Civil Court Judge or District Judge or who has been such judge and two others shall possess such technical qualifications as may be prescribed.
(2) The arbitrators shall follow such procedure as may be prescribed.
(3) The arbitrators shall, for purpose of determining any matter referred to them have the same powers as are vested in a Civil Court under the Code of Civil Procedure, 1908 (V of 1908), when trying a suit, in respect of the following matters, namely :-
(a) summoning and enforcing the attendance of any person and examining him on oath ;
(b) requiring the discovery and production of any document ;
(c) receiving evidence on affidavits ;
(d) requisitioning any public record from any Court or office ;
(e) issuing commissions for examination of witnesses.
(4) In the event of any difference of opinion among the arbitrators, the decision of the majority shall prevail and that decision shall be the award of the arbitrators.
(5) If any arbitrator dies, resigns or is removed under sub-section (6) or refuses or neglects, in the opinion of the State Government, to perform his duties, or becomes incapable of performing the same, then the State Government shall forthwith appoint another fit person to take the place of such arbitrator.
(6) If the State Government is satisfied after such inquiry as it thinks fit-
(a) that an arbitrator has misconducted himself, the State Government may remove him from his office;
(b) that the award of the arbitrators has been improperly procured or that any arbitrator has misconducted himself in connection with such award, the State Government may set aside the award.
(7) An award which has not been set aside by the State Government under clause (b) of sub-section (6) shall be final and shall not be questioned in any Court.
(8) The provisions of the Arbitration Act, 1940 (X of 1940), shall not apply to arbitration under this section.