Arbitration

Corporate197721 sections

Statutory text

(1) Where any dispute arises in respect of any of the matters specified below, it shall be determined by an arbitrator appointed by the Government:- a) Whatever any property belonging, or any right, liability or obligation attaching to the undertaking, vests in the Government; b) Whether any fixed asset forms part of the undertaking ; c) Whether any contract including any contract or agreement referred to in clauses (ii) and (iii) of sub-section (1) of section 5 has been entered into bonafide or not; d) Whether any agreement to supply electricity entered into by the licensee prior to the vesting date is of the nature referred to in the first date is of the nature referred to in the first proviso to sub-section (3) of section 5; e) Any other dispute that may arise regarding the gross or net amount payable to the licensee under this Act.

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