(1) |
If the Companies Tribunal has resolved, or assisted parties in resolving, a dispute in terms of this Part, the Tribunal may— |
[Words preceding Section 167(1)(a) substituted by section 20 of the Companies Amendment Act 16 of 2024, Notice No 5082, GG50991, dated 30 July 2024 – effective 27 December 2024 per Notice 238, GG51837 dated 27 December 2024]
(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. |