43.
| (1) Any person who carries on business as an importer, exporter, seller, supplier, or distributor Of petroleum shall, if a written request in that behalf is made to him by the Corporation, make available for use by the Corporation any equipment or facilities maintained by him for the purpose of that business subject to such terms and conditions (including terms as to the charges to be made for such use) as may be determined by agreement between that person and the Corporation or, in the absence of such agreement, by arbitration as hereinafter provided. |
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| (2) Where the terms and conditions subject to which any equipment or facilities of any person referred to in subsection (1) is or are to be used by the Corporation have to be determined by arbitration, the arbitration shall be conducted-
| | (a) by a single arbitrator nominated by agreement between that person and the Corporation; or | | |
| | (b) in default of such agreement, by two arbitrators nominated respectively by that person and the Corporation. | | |
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| (3) Where in any case referred to in paragraph (b) of subsection (2) there is a difference of opinion among the two arbitrators in respect of any matter, the matter shall be referred for decision by an umpire chosen by them, and, if they are unable to agree, by an umpire appointed for the purpose by the District Court of Colombo on application made by any party to the arbitration proceedings. |
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| (4) The decision of a single arbitrator or where there are two arbitrators their agreed decision, or in any case referred to in subsection (3) the decision of an umpire, shall be final and conclusive for the purposes of this section and shall be binding on the Corporation and on the person whose equipment or facilities is or are to be used by the Corporation. |
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| (5) Regulations may be made in respect of , all matters relating to or connected with the conduct of proceedings upon arbitration under this section. |
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Sri Lanka Consolidated Acts