Companies Act, 2008 (Act No. 71 of 2008)Chapter 7 : Remedies and EnforcementPart C : Voluntary resolution of disputes167. 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. |