(1)
This section applies where money or damages are claimed by or on behalf of a specified person, whether alone or in conjunction with another person.
(2)
If the claim is not the subject of proceedings before a court, an agreement for the compromise or settlement of the claim entered into by the specified person, or on his or her behalf by a person who, in the opinion of a court, is a fit and proper person to do so, is binding on the specified person if the agreement, or a release of the claim, is in writing and is approved by the court under section 108C.
(3)
If the claim has not been compromised or settled in accordance with subsection (2), and has become the subject of proceedings before a court, a settlement, compromise, or payment, or acceptance of money paid into court, whenever entered into or made, is valid so far as it relates to the specified person’s claim only with the approval of the court under section 108C.
Compare: 1957 No 36 s 66(1)
Section 108B: inserted, on 1 March 2002, by section 170(1) of the Public Trust Act 2001 (2001 No 100).