Amendment status not verified — confirm the current text below against the official source.
(1) The Chairperson shall have powers of general superintendence and directions in the conduct of the affairs of the Authority. The Chairperson shall, Powers of Chairperson and Vice- Chairperson. preside over the meetings of the 1[Authority] as well as exercise discharge the powers and functions of the Authority vested in him in accordance with the regulation. 2[(1-A) Where there is a provision, for appointment of sole Arbitrator by the Government/Government agencies, in an agreement entered into between two or more contractors, or contractor/contractors on one side and a Department, Public Sector Undertaking, Board, Corporation, Society or Agency under the control of the State Government on the other side, regarding the creation, development, maintenance and operation of infrastructure related projects and for matters connected therewith or incidental thereto of the State Government, in such a case, the Chairperson or any member so nominated by the Chairperson shall be deemed to be the sole Arbitrator, under the Arbitration and Conciliation Act, 1996 (Act 26 of 1996) in disputes where the claimed amount is five crore rupees and above. (1-B) Where there is a provision, for appointment of two or more Arbitrators, one of them to be appointed by the Government/ Government agencies, in an agreement entered into between two or more contractors, or a contractor/contractors on one side and a Department, Public Sector Undertaking, Board, Corporation, Society or Agency under the control of the State Government on the other side, regarding the creation, development, maintenance and operation of infrastructure related projects and for matters connected therewith or incidental thereto of the State Government, in such a case, the Chairperson or any member so nominated by the Chairperson shall be deemed to be the Arbitrator required to be appointed by the Government/Government agencies under the Arbitration and Conciliation Act, 1996 (Act 26 of 1996) in disputes where the claimed amount is five crore rupees and above.] 1Substituted for words and sign “Authority,” by Punjab Act No. 22 of 2003, Section 5 2Inserted by Punjab Act No. 26 of 2017, Section 2 (2) The Vice-Chairperson shall exercise and discharge the powers and functions of the Chairperson, in the absence of the Chairperson, in accordance with the regulations.