Directions Of The Ppp Arbiter

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`.—(1) A PPP agreement may provide for matters of any description specified in the agreement to be referred to the PPP arbiter.

(2) A party to a PPP agreement may refer to the PPP arbiter for direction any matter of a description specified in a provision of that agreement by virtue of subsection (I) above.

(3) Where a matter is referred under this section to the PPP arbiter for direction he—

(a) shall give a direction in relation to that matter, and

(b) may give a direction in relation to any other matter which he considers relevant to the matter referred.

(4) The directions that may be given under subsection (3) above include directions relating to the inclusion of new terms in, or the variation of existing terms of, the PPP agreement in question.

(5) The PPP arbiter shall give notice of any direction under subsection (3) above to the parties to the PPP agreement in question.

(6) A direction under subsection (3) above shall be final and binding—

(a) on the parties to the PPP agreement in question, and

(b) on any persons claiming through or under those parties, and shall, if and to the extent that the notice given under subsection (5) above so provides, take effect as a term of the PPP agreement.

(7) Where a direction has been given under subsection (3) above, the parties to the PPP agreement in question may jointly agree that subsection (6) above is not to have effect in relation to that direction.'.—[Mr. Dowd.]

Brought up, read the First and Second time, and added to the Bill.

Volume 330: debated on Wednesday 5 May 1999