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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 7 : Remedies and Enforcement

Part C : Voluntary resolution of disputes

167. Dispute resolution may result in consent order

 

 

1) If the Companies Tribunal, or an entity accredited in terms of section 166, has resolved, or assisted parties in resolving, a dispute in terms of this Part the Tribunal or accredited entity may—
a) record the resolution of that dispute in the form of an order; and
b) if the parties to the dispute consent to that order, submit it to a court to be confirmed as a consent order, in terms of its rules.

 

2) After hearing an application for a consent order, the court may—
a) make the order as agreed and proposed in the application;
b) indicate any changes that must be made to the draft order before it will be made an order of the court; or
c) refuse to make the order.

 

3) A consent order confirmed in terms of subsection (2)—
a) may include an award of damages; and
b) does not preclude a person applying for an award of civil damages, unless the consent order includes an award of damages to that person.

 

4) A court hearing any proceedings concerning a dispute arising out of a consent order may order the proceedings closed to the public if it is the interest of the confidentiality of the parties to the consent order to do so.