(1) Any dispute arising out of a contract between a School and any of its employees shall, at the request of the employee concerned or at the instance of the School, be referred to a Tribunal of Arbitration consisting of one Member appointed by the School, one Member nominated by the employee, and an umpire appointed by the Visitor.
(2) The decision of the Tribunal shall be final and shall not be questioned in any court.
(3) No suit or proceeding shall lie in any court in respect of any matter, which is required by subsection (1) to be referred to the Tribunal of Arbitration.
(4) The Tribunal of Arbitration shall have power to regulate its own procedure:
Provided that the Tribunal shall have regard to the principles of natural justice while making such procedure.
(5) Nothing in any other law for the time being in force relating to arbitration shall apply to arbitrations under this section.