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

Chapter 7 : Remedies and Enforcement

Part C : Resolution of disputes

167. Dispute resolution may result in consent order

 

(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.