62.
| (1) Where any matter or dispute is required to, be referred to arbitration by the. Minister under this Act or is. referred to arbitration through the Minister under this Act,' such matter' or dispute shall be so referred by the Minister, as soon as practicable, to a Board of Arbitration consisting of one arbitrator appointed by the Board, another arbitrator appointed by the other party to the matter or dispute, and an umpire (who shall be appointed by the Minister to be the Chairman of the Board of Arbitration) agreed upon by the two arbitrators or, in the event of an absence of such agreement within two months, nominated by the Minister. |
|
| (2) In the event of any difference of opinion among the members of the Board of Arbitration, the decision or determination of the majority shall be the decision of that Board |
|
| (3) Regulations may be made -
| | (a) in respect of all matters relating to or connected with the conduct of proceedings upon arbitration under this section; and | | |
| | (b) providing for the payment of fees to the persons appointed under this section as arbitrators or as members of the Board of Arbitration. | | |
|
|
| (4) The decision or determination given upon arbitration under this section in respect of any matter on dispute shall be final and conclusive. |
|
|
Sri Lanka Consolidated Acts