(1) If the position of an arbitrator becomes vacant, the parties may agree on

(a) whether and how the vacancy is to be filled, and

(b) whether the previous proceedings should be adopted.

(2) If there is no agreement between the parties under subsection (1)(a), the appointing authority shall, on a reference by a party, appoint another arbitrator in accordance with this Act.

(3) Where the parties fail to reach an agreement under subsection (1)(b) on the appointment of an arbitrator to fill a vacancy, the new arbitrator shall decide whether to adopt the previous proceedings or to start afresh.