Arbitration Act 2005 s 32
s 32 Settlement
(1) If, during arbitral proceedings, the parties settle the dispute, the arbitral tribunal shall terminate the proceedings and, if requested by the parties and not objected to by the arbitral tribunal, record the settlement in the form of an award on agreed terms.
(2) An award on agreed terms shall be made in accordance with the provisions of section 33 and shall state that it is an award.
(3) An award made under subsection (1) shall have the same status and effect as an award on the merits of the case.
Malay text (authoritative)
Penyelesaian
(1) Jika, semasa prosiding timbang tara, pihak-pihak menyelesaikan pertikaian, tribunal timbang tara hendaklah menamatkan prosiding itu dan, jika diminta oleh pihak-pihak dan tidak dibantah oleh tribunal timbang tara itu, merekodkan penyelesaian dalam bentuk suatu award atas terma yang dipersetujui.
(2) Suatu award mengikut terma yang dipersetujui hendaklah dibuat mengikut peruntukan seksyen 33 dan hendaklah menyatakan bahawa ia ialah suatu award.
(3) Suatu award yang dibuat di bawah subseksyen (1) hendaklah mempunyai status dan kesan yang sama sebagaimana suatu award mengikut merit kes itu.
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Find Act 646 on lom.agc.gov.my ↗
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
