225Arbitration of dispute about cost

225 Arbitration of dispute about cost (1) If the responsible Minister and the utility concerned dispute the cost of complying with a direction under section 221, either party may refer the dispute to ICRC for arbitration. (2) ICRC must arbitrate a dispute so referred. (3) The following provisions of the ICRC Act, part 6 apply, so far as applicable, to the arbitration: (a) section 33 (1), (2) and (5) (appointment and powers of arbitrator); (b) section 34 (draft determinations); (c) section 36 (1) (parties to give effect to determination); (d) section 37 (termination by parties); (e) section 38, but not paragraph (d) (termination by arbitrator); (f) section 39 (variation of arbitration); (g) section 40 (application of Commercial Arbitration Act 2017).