(1) When the dispute is referred for decision, the Registrar or his nominee may, after giving a reasonable opportunity to the parties to the dispute to be heard, make an award in respect of the dispute, the expenses incurred by the parties to the dispute in connection with the proceedings and fees, expenses payable to the Registrar or his nominee. Such an award shall not be invalid merely on the ground that it was made after the expiry of the period fixed for deciding the dispute by the Registrar and shall, subject only to appeal to the Co-operative Tribunal constituted under section 96 of the Uttar Pradesh Co-operative Societies Act, 1965, be binding on the parties to the dispute.
(2) Nothing in the Arbitration Act, 1940, shall apply to such reference or appeal.
(3) Any person aggrieved by an award of the Registrar or his nominee may within thirty days after the date on which the award is communicated to such person appeal to the Tribunal.
(4) The Tribunal after hearing an appeal under this section may pass such order as it may deem just.