Building Societies Act 1986

Disputes cognizable under a scheme

7 (1) Any dispute relating to a prescribed matter of complaint action in relation to which is subject to investigation under a scheme under section 83 may, if the complainant and the society or, as the case may be, the complainant and the associated body agree, instead of being determined by the adjudicator under the scheme, be referred to him as arbitrator.

(2) The reference of a dispute to an adjudicator under sub-paragraph (1) above shall be treated as a reference to arbitration, and his award shall have the same effect as that of an arbitrator acting in a reference under paragraph 4(1) above.

(3) Any expression used in this paragraph and section 83 has the same meaning in this paragraph as in that section.