Report No. 238

Annexure I

Extract of Section 73(1) of Ac Act and Section 89 of Cpc

73. Settlement agreement.

(1) When it appears to the conciliator that there exist elements of a settlement which may be acceptable to the parties, he shall formulate the terms of a possible settlement and submit them to the parties for their observations. After receiving the observations of the parties, the conciliator may reformulate the terms of a possible settlement in the light of such observations.

(2) ...

(3) ...

(4) ...