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Appointment of arbitrator.
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5.—(1) The Executive Council shall appoint a fit and proper person to be standing arbitrator (in this Part of this Act referred to as the arbitrator) for the purposes of this Part of this Act.
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(2) Every person appointed under this section to be a standing arbitrator shall hold that office for five years from the date of his appointment and no longer, but shall be eligible for re-appointment at the end of his term of office or at any subsequent time.
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(3) Every person appointed under this section to be a standing arbitrator may be removed from that office at any time by the Executive Council for stated misbehaviour or incapacity, but not otherwise.
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(4) There shall be paid to the standing arbitrator appointed under this section such remuneration as the Minister, with the sanction of the Minister for Finance, shall determine.
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(5) If and whenever owing to the incapacity through illness or the absence of the standing arbitrator or the number of arbitrations to be heard it is necessary or expedient that additional arbitrators should be appointed, the Executive Council may appoint one or more additional arbitrators upon such terms and conditions as they shall with the consent of the Minister for Finance think proper, and every such additional arbitrator shall be included in the expression “the arbitrator” as used in this Part of this Act and shall have all the powers and duties conferred or imposed on the standing arbitrator by this Part of this Act.
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