Section 25: Settlement of disputes

(1) Where a dispute arises between an investor and the Authority or the Government in respect of a registered business enterprise, all efforts shall be made to settle the dispute through negotiations for an amicable settlement in accordance with the Arbitration and Conciliation Act. (2) A dispute between an investor and the Authority or the Government in respect of a registered business enterprise which is not settled through negotiations may be submitted to arbitration in accordance with the following methods as may be mutually agreed by the parties- (a) in accordance with the procedures for arbitration provided under the Arbitration and Conciliation Act; (b) in accordance with the rules of procedure for arbitration of the International Centre for the Settlement of Investment Disputes; or (c) within the framework of any bilateral or multilateral agreement on investment protection to which the Government and the country of which the investor is a national are parties. (3) The investment certificate in respect of a registered business enterprise may specify the particular mode of arbitration to be resorted to in the case of a dispute relating to that enterprise, and that specification shall constitute the consent of the Government, the Authority or their respective agents and the investor to submit to that mode and forum of arbitration. (4) Where the parties to a dispute do not agree on the mode or forum for arbitration, the party aggrieved by compulsory acquisition or possession or the amount of compensation payable, or in respect of any other matter relating to the business enterprise may apply to the High Court for the determination of any of the following- (a) the interest or right of the party aggrieved; (b) the legality of the taking of the possession or acquisition of the property, interest or right; (c) the amount of compensation to which the party aggrieved is entitled and the prompt payment of that compensation; and (d) any other matter in dispute relating to the business enterprise.