223Parties to valuation arbitration

223 Parties to valuation arbitration

223 Parties to valuation arbitration

In its application to a valuation arbitration, references (however expressed) in the Arbitration Act (as modified by this Part) to the parties or any party are to be read as references to the following—

(a) the existing service provider who has made an application to the Secretary under clause 39(2) of Schedule 3 to the Act in respect of the bus service asset in question in the valuation arbitration,

(b) the proposed new service provider to whom the existing service provider wishes to sell or otherwise dispose of the bus service asset.