CHAPTER IX
ARBITRATION BETWEEN MEMBERS Settlement of
Disputes
56. All disputes, complaints and claims
between, by and against members shall, on the application of either party, be decided by
the Arbitration Sub-Committee appointed for that purpose by the Committee. Any party
aggrieved with any decision of the Arbitration Sub-Committee may, within seven days of
such decision being received appeal to the Committee whose decision shall be final. In the
event of any member or members refusing, neglecting or failing to observe, carry out or
comply or if no appeal is preferred, with the decisions of the Committee, or if no appeal
is preferred, with the decision of the Arbitration Sub-Committee, such member or members
so in default shall be dealt with by the Committee under the Rules, Regulations and/or
Bye-laws of the Association for the time being in force.
Reference of Disputes
57. No complaint, dispute or appeal shall
be referred to the Committee unless it has been submitted by 2 p.m. on the day before such
sitting.
Fees for Arbitration Between Members
58. The fees payable in advance for
arbitration between members shall be as under or such other as the Committee may from time
to time determine :-
Application for Arbitration will be
Rs. 25/-
Appeal to the Committee will be
Rs. 100/-
Share Examination Fee per T.D.
Rs. 25/-
But in case of accounts containing more
than one transaction unless it is pure and simple for payment of the balance (having no
dispute over any items whatsoever) a fee of Rs. 25/- must be paid for each of the disputed
item required to be decided by the Arbitration Sub-Committee. The party found to be at
fault will be liable for all cost.
Cases against Suspended Members
59. The fact that a member is for any
reason under suspension shall not debar the Committee from taking cognizance of , or
dealing with any claims made against that member by other members of the Association, but
before adjudication upon such claims, full particulars of the claim made against him shall
be sent by registered post to the registered address of that member. In the event of no
reply being received by the Committee within 14 days from date of posting, or of any reply
received being considered unsatisfactory, the Committee shall proceed to deal with the
claim ex-parte.
Appeals
60. An appeal against any decision of
any of the Sub-committees must be accompanied by a fee of Rs. 100/- which will be refunded
if the appeal is allowed.
When a case has been struck off or filed
owing to the negligence of the complainants or when a defendant wishes to contest a case
which has been decided ex-parte a fee of Rs. 100/- must be paid before the matter can be
heard.
Powers of Share Examination Sub-Committee
61. (1) The Share Examination
Sub-Committee decides particular points brought to its notice, but has complete power to
point out any irregularity if it comes to their notice.
When a share is returned as under
objection, the same should be placed before the Share Examination Sub-Committee by the
sellers within the next two delivery days of such return in default whereof, the buyers
shall not be responsible.
(2) In cases where the deliveries have been
decided not to be in order by the Share Examination Sub-Committee, a fee of Rs. 25/- will
be payable by the sellers to the respective buyers provided only that the objection has
been lodged by the seller. In cases where the objection is lodged by the buyer, the buyer
will pay the fees.
Back | Next
Top |