§ 23 — Settlement agreements in mediation

23.—(1) The parties must set out their settlement of any dispute resulting from mediation, in a settlement agreement in writing.(2) Where, by any part of the settlement agreement, the parties have agreed to vary the lease agreement that was the subject of the mediation, that part of the settlement agreement takes effect as a variation of the lease agreement.

(3) Where any part of the lease agreement as varied in accordance with subsection (2) includes any permitted deviation, the landlord must, if required by the leasing principle in question, submit to the Committee a declaration of permitted deviation for the permitted deviation.

(4) The declaration of permitted deviation must —(a)

be submitted within the period prescribed by the Regulations; and

(b)

be accompanied by any fee or charge prescribed by the Regulations or (if none is prescribed) specified by the Committee for the submission, payable to the secretariat.

(5) Where the landlord fails to comply with subsection (3) or (4) —(a)

the permitted deviation is void (but not if the permitted deviation relates to a rental formula); and

(b)

if the leasing principle provides for any consequence in the event of the landlord’s failure, then that consequence may be enforced as if it were a term of the lease agreement.

—(1) The parties must set out their settlement of any dispute resulting from mediation, in a settlement agreement in writing.

(2) Where, by any part of the settlement agreement, the parties have agreed to vary the lease agreement that was the subject of the mediation, that part of the settlement agreement takes effect as a variation of the lease agreement.

(3) Where any part of the lease agreement as varied in accordance with subsection (2) includes any permitted deviation, the landlord must, if required by the leasing principle in question, submit to the Committee a declaration of permitted deviation for the permitted deviation.

(4) The declaration of permitted deviation must —(a)

be submitted within the period prescribed by the Regulations; and

(b)

be accompanied by any fee or charge prescribed by the Regulations or (if none is prescribed) specified by the Committee for the submission, payable to the secretariat.

(5) Where the landlord fails to comply with subsection (3) or (4) —(a)

the permitted deviation is void (but not if the permitted deviation relates to a rental formula); and

(b)

if the leasing principle provides for any consequence in the event of the landlord’s failure, then that consequence may be enforced as if it were a term of the lease agreement.