Interim Board for Settlement created to assume and decide pending excise applications under a majority decision rule. Establishes an Interim Board for Settlement to dispose of pending applications, to be notified by the Central Government and to take over each pending application at the stage where it stood immediately before constitution. Each Board shall consist of three members of specified senior rank nominated by the central indirect tax authority; differences of opinion are decided by majority, and the Board shall be assisted by nominated Central Excise officers.