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An appeal in respect of a dispute arising out of a contract between the University and any officer or teacher of the University shall be preferred in the case of a dispute between an officer or a teacher and an authority of the Uni versity other than the Executive Council, to the Executive Council, and in respect of a dispute between an officer or a teacher and the Execu tive Council, to the Chancellor. The Executive Council or the Chancellor, as the case may be, may either dispose of the appeal or may refer it to a Board of Arbitration. The constitution of terms of reference to the Board of Arbitration shall be such as may be prescribed by the Sta tute. The decision of the Board of Arbitration shall be final and no suit shall lie in any Civil Court in respect of the matters decided by the Board.” Amendment