Mark the Correct Statement, Under the Act of 1996:

Presiding Arbitrator replaces the umpire of the old Act

Presiding Arbitrator is a part and parcel of the Arbitral Tribunal while umpire under the old Act was a third person

Presiding Arbitrator makes award along with panel of Arbitrator while umpire could make award single handedly when the appointed arbitrators had failed to arrive at a consensus