Amendment status not verified — confirm the current text below against the official source.
Amendment of section 12. Power of Central Government to amend Fourth Schedule. SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 5 Explanation 1.—The grounds stated in the Fifth Schedule shall guide in determining whether circumstances exist which give rise to justifiable doubts as to the independence or impartiality of an arbitrator. Explanation 2.—The disclosure shall be made by such person in the form specified in the Sixth Schedule.”; (ii) after sub-section (4), the following sub-section shall be inserted, namely:— “(5) Notwithstanding any prior agreement to the contrary, any person whose relationship, with the parties or counsel or the subject-matter of the dispute, falls under any of the categories specified in the Seventh Schedule shall be ineligible to be appointed as an arbitrator: Provided that parties may, subsequent to disputes having arisen between them, waive the applicability of this sub-section by an express agreement in writing.