Arbitrations
7.—(1) In section 84, in subsection (1), the words from “in accordance with” to the end of the subsection shall be omitted.
(2) In that section, for subsections (2) to (5) there shall be substituted—
“(2) The arbitrator shall be a person appointed by agreement between the parties or, in default of agreement, a person appointed on the application of either of the parties by the President of the RICS.
(3) If the arbitrator dies, or is incapable of acting, a new arbitrator may be appointed as if no arbitrator had been appointed.
(4) No application may be made to the President of the RICS for an arbitrator to be appointed by him under this section unless the application is accompanied by such fee as may be prescribed as the fee for such an application; but once the fee has been paid in connection with any such application no further fee shall be payable in connection with any subsequent application for the appointment by him of a new arbitrator in relation to that arbitration.
(5) Where by virtue of this Act compensation under an agreement is to be substituted for compensation under this Act for improvements or for any such matters as are specified in Part II of Schedule 8 to this Act, the arbitrator shall award compensation in accordance with the agreement instead of in accordance with this Act.
(6) In this section “the RICS” means the Royal Institution of Chartered Surveyors.”.
(3) In section 94, in subsection (2)—
(a)after the words “section 22(4)” there shall be inserted “, 84(4)”, and
(b)the words “or paragraph 1(2) of Schedule 11” shall be omitted.
(4) In that section, in subsection (3), for the words “paragraph 1(2) of Schedule 11 to this Act” there shall be substituted “section 84(4) above”.
(5) In paragraph 2 of Schedule 4, for “paragraph 1 of Schedule 11 to” there shall be substituted “section 84(2) of”.