Section 55

Settlement of dispute out of Court or Tribunal 

(1) Where a Court or the Tribunal permits the parties to settle a dispute out of Court or the Tribunal, as the case may be, the settlement shall be made within ninety days one hundred and twenty days from the date the Court or the Tribunal permits the settlement. (Finance Act 2023 wef 1st-July-2023 s62)

(2) Where parties fail to settle the dispute within the period specified in subsection (1), the dispute shall be referred back to the Court or the Tribunal that permitted the settlement.

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