54Where parties fail to settle dispute within relevant period

54 Where parties fail to settle dispute within relevant period

If a settlement, registered by the Director under section 53(1) , to a dispute is not, within 20 business days after the Director establishes a mediation panel in relation to the dispute, signed by the parties to the dispute who are to be bound by the settlement –

(a) the mediation panel must cease to assist the parties to the dispute; and

(b) the mediation panel must notify the Director that the mediation panel has ceased to assist the parties to the dispute.