Paragraph 1 Appointment and remuneration of arbitrator

In any case where an apportionment is to be carried out by arbitration an arbitrator shall be appointed by agreement between the transferor and transferee within the period of 28 days referred to in regulation 7(1)(a) (referred to in this paragraph as “the relevant period”) and the transferee shall notify the Intervention Board in writing of the appointment of the arbitrator within fourteen days of the date of the appointment.

Notwithstanding subparagraph (1), the transferor or the transferee may at any time within the relevant period make an application to the President of the Royal Institution of Chartered Surveyors (referred to in this Schedule as “the President”) for the appointment of an arbitrator from amongst the members of the panel referred to in paragraph 8 and the person who makes such an application to the President shall notify the Intervention Board in writing of that fact within fourteen days of the date of the application.

If at the expiry of the relevant period an arbitrator has not been appointed by agreement between the transferor and the transferee and no application has been made to the President under paragraph (2), the Intervention Board shall make an application to the President for the appointment of an arbitrator.

Where the Intervention Board gives a notice in accordance with regulation 12 it shall make an application to the President for the appointment of an arbitrator and the Intervention Board shall be a party to the arbitration.

Where an apportionment under regulation 33(5) is to be carried out by arbitration, the producer shall either appoint an arbitrator by agreement with all persons with an interest in the holding or make an application to the President for the appointment of an arbitrator from amongst the members of the panel referred to in paragraph 8.