(1) Notwithstanding anything
contained in the Arbitration and Conciliation Act, 1996(Central
Act No. 26 of 1996), any dispute arising between licensees shall
be referred to the Commission. The Commission may proceed to act
as arbitrator or nominate arbitrator or arbitrators 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 prescribed by regulations.
(2) Where an award is made
by the arbitrator appointed by the Commission, it shall be filed
before the Commission and the Commission may pass appropriate orders
on the award including orders to,-
Confirm and enforce the award;
Set aside or modify the award; or
Remit 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 appealable as provided
in this Act.
(4) An award made by the commission
under sub-section (1), or an order passed by the Commission under
sub-section (2) shall be enforceable as if it was a decree of the
Civil Court.
(5) The Commission may
make such interim orders as it may consider appropriate at any time
before the commencement or during the pendency or proceedings under
this section. |