Which of the following legislation mandates a recourse to arbitration in case of any dispute arising within the Act?
Answer & explanation
Correct answer: option 3
Statutory Arbitration - An arbitration which is mandatorily imposed on the parties by operation of a particular law or statute, applicable to them. For example, the Defence of India Act, 1971 is one such legislation that mandates a recourse to arbitration in case of any dispute arising within the Act.