The Planning Board

(1) There shall be constituted a Planning Board of the University to be the principal planning body of the University and shall also be responsible for monitoring the development of the University. (2) The constitution of the Planning Board, the term of office of its members and its powers and functions shall be such as may be prescribed. (1) [Content extracted from fragment] shall consist of one member nominated by the Board of Management, one member nominated by the employee concerned and an umpire to be nominated by the Chancellor. (2) Every such reference shall be deemed to be a submission to arbitration on the terms of this section within the meaning of the Law of Arbitration as in force, and all the provisions of that Law, with the exception of Section 2 thereof, shall apply accordingly. (3) The procedure for regulating the work of the Tribunal of arbitration shall be such as may be prescribed. (4) The decision of the Tribunal of Arbitration shall be final and binding on the parties, and no suit shall lie in any court in respect of any matter decided by the Tribunal.