(1) Where any antiquity or art treasure is compulsorily acquired under section 19, there shall be paid compensation, the amount of which shall be determined in the manner and in accordance with the principles hereinafter set out, that is to say,--
         (a) where the amount of compensation can be fixed by agreement, it shall be paid in accordance with such agreement;
         (b) where no such agreement can be reached, the Central Government shall appoint as arbitrator a person who is, or has been, or is qualified for appointment as, a Judge of a High Court;
         (c) the Central Government may, in any particular case, nominate a person having expert knowledge as to the nature of the antiquity or art treasure compulsorily acquired to assist the arbitrator and where such nomination is made, the person to be compensated may also nominate an assessor for the same purpose;
         (d) at the commencement of the proceedings before the arbitrator, the Central Government and the person to be compensated shall state what, in their respective opinion, is a fair amount of compensation;
         (e) the arbitrator shall, after hearing the dispute, make an award determining the amount of compensation which appears to him to be just and specifying the person or persons to whom such compensation shall be paid and in making the award he shall have regard to the circumstances of each case and the provisions of sub-section (2);
         (f) where there is any dispute as to the person or persons who are entitled to the compensation, the arbitrator shall decide such dispute and if the arbitrator finds that more persons than one are entitled to compensation, he shall apportion the amount thereof amongst such persons;
         (g) nothing in the Arbitration Act, 1940 (10 of 1940) shall apply to arbitration under this section.
     (2) While determining the compensation under sub-section (1), the arbitrator shall have regard to the following factors, namely:--
             (i) the date or the period to which the antiquity or art treasure belongs;
             (ii) the artistic, aesthetic, historical, architectural, archaeological or anthropological importance of the antiquity or art treasure;
             (iii) the rarity of the antiquity or art treasure;
             (iv) such other matters as are relevant to the dispute.
     (3) The arbitrator appointed under sub-section (1), while holding arbitration proceedings under this section, shall have all the powers of a Civil Court, while trying a suit, under the Code of Civil Procedure, 1908 (5 of 1908), in respect of the following matters, namely:--
         (a) summoning and enforcing the attendance of any person and examining him on oath;
         (b) requiring the discovery and production of any document;
         (c) reception of evidence on affidavits;
         (d) requisitioning any public record from any court or office;
         (e) issuing commissions for the examination of witnesses