(1) Where any dispute arises or is pending between the accredited representative and the Government in respect of any of the matters specified below or such other matter as may be prescribed, it shall be determined by an arbitrator appointed by the Government who shall be a District Judge or a person who is a retired High Court Judge or a retired District Judge:-
(a) the amount of the compensation payable in respect of the undertaking as a whole or any component part thereof;
(b) whether any property belonging or any right, liability or obligation attaching to the undertaking vests in the Government;
Repayment of debentures, loans, etc.
Arbitration.
[Act No. XV of 1954] 23
(c) whether any fixed asset forms part of the undertaking;
(d) whether any contract or hire-purchase agreement or other contract referred to in section 6 (2) (a) (ii) or (iii) has been entered into bona fide or not;
(e) whether any agreement to supply electricity entered into by the licensee prior to the vesting date is of the nature referred to in section 6, sub-section (3) first proviso;
(f) whether the Government are entitled to deduct any sum under section 9 or section 10.
(2) Subject to the provisions of this section, the provisions of the Arbitration Act, 1940 (Central Act 10 of 1940) shall apply and shall be deemed always to have applied to all arbitrations under this Act.
(3) The Arbitrator may, if he thinks it expedient to do so, call in the aid of one or more qualified assessors and hear the whole or any part of the reference with the aid of such assessor or assessors.
(4) Where, in respect of an undertaking taken over, an award in a dispute of the nature referred to in sub-section
(1) has been made by an arbitrator appointed by the Government, such award is hereby declared to have been validly made.