Arbitration Act, 1940 — Section 48: Saving for pending references

48. Saving for pending references. The provisions of this Act shall not apply to any reference pending at the commencement of this Act, to which the law in force immediately before the commencement of this Act shall, notwithstanding any repeal affected by this Act, continue to apply. 49. [Repeals and amendments] Rep. by the Repealing and Amending Act, 1945 (VI of 1945),s. 2 and First Schedule. UNDER REVIEW before the arbitrators or umpire all books, deeds, papers, accounts writings and documents within their possession or power respectively, which may be required or called for, and do all other things which, during the proceedings on the reference, the arbitrators, or umpire may require. 7. The award shall be final and binding on the parties and persons claiming under them respectively. ` 8. The cost of the reference and award shall be in the discretion of the arbitrators or umpire who may direct to, and by whom, and in what manner, such costs or any part thereof shall be paid, and may tax or settle the amount of costs to be so paid or any part thereof and may award costs to be paid as between legal practitioner and client.