Where at any time before the beginning of a hearing or the consideration by a valuation tribunal of written representations it is agreed in writing between the persons who, if a dispute were to be the subject of an appeal to the tribunal, would be the parties to the appeal, the matter must be referred to arbitration.

In any arbitration under this regulation, the award may include any order which could have been made by a valuation tribunal in relation to the matter; and paragraph 9 of Schedule 11 to the Act applies to such an order as it applies to an order recorded under these Regulations.