104. Every dispute or difference which shall arise between the Company and any of the shareholders, their heirs, executors, administrators or assigns, touching the matter, intent, page 39 or construction of these presents, or any of the regulations of the Company, or touching any act, deed, or thing to he done, executed, omitted, or suffered in pursuance of these presents, or of the Joint Stock Companies' Act, 1860, and the Joint Stock Companies' Amendment Act, 1862, or otherwise relating to any of the affairs of the Company, may he referred to two arbitrators or their umpire, pursuant to, and so as with regard to the mode and consequence of the reference, and in all other respects to conform to the provisions with respect to arbitration contained in the Act of the General Assembly of the Colony of New Zealand, instituted the "Supreme Court Practice and Procedure Amendment Act 1866," or any then subsisting statutory modification thereof.