Arbitration by the Commission

(1) Notwithstanding anything contained in any other law including the Arbitration and Conciliation Act, 1996 (Central Act. 26 of 1996) or substitution thereof, any dispute arising between licensees shall be referred to the Commission. The Commission may proceed to act as arbitrator or nominate arbitrator(s) to adjudicate and settle such dispute. The practice or procedure to be followed in connection with any such adjudication and settlement shall be such as may be specified by regulations.

(2) Where the award is made by the arbitrator appointed by the Commission it shall be filed before the Commission and the Commission shall be entitled to pass appropriate orders on the award including, orders as to,-

(a) confirming and enforcing the award;

(b) setting aside or modifying the award; or

(c) remitting the award for reconsideration by the arbitrator.

(3) The award given by the Commission under sub-section (1) or the order passed by the Commission under sub-section (2) shall be a decision or order of the Commission and shall be appeallable as provided in this Act and shall not be subject to any proceedings under any law relating to Arbitration.

(4) An award made or an order passed by the Commission under sub-section (2) shall be enforceable as if it were a decree of the Civil Court.