20Agreements as to incidental matters
(1)Any public bodies affected by an order under this Part may from time to time make agreements with respect to any property, income, rights, liabilities and expenses (so far as affected by the order) of, and any financial relations between, the parties to the agreement.
(2)Such an agreement may provide—
(a)for the transfer or retention of any property, rights and liabilities, with or without conditions, and for the joint use of any property;
(b)for the making of payments by either party to the agreement in respect of property, rights and liabilities so transferred or retained, or of such joint use, and in respect of the remuneration or compensation payable to any person; and
(c)for the making of any such payment either by way of a capital sum or of a terminable annuity.
(3)In default of agreement as to any disputed matter, the matter shall be referred to the arbitration of a single arbitrator—
(a)agreed on by the parties; or
(b)in default of agreement, appointed by the Secretary of State;
and the award of the arbitrator may make any provision that might be contained in an agreement under this section.
(4)In subsection (3) above “disputed matter” means any matter which—
(a)might be the subject of provision contained in an agreement under this section; and
(b)is the subject of such a dispute between two or more public bodies as is not resolved by or under provision contained in any order or regulations under this Part.