If the plaintiff and the defendant in any civil proceeding agree in writing to refer the subject of such civil proceeding or any other matters in dispute between the parties whether such other matters are within the jurisdiction of the court or not, and notify such agreement to the court, the court may if it thinks fit act as arbitrator, and shall make an award thereon upon which it shall cause to be entered up judgment in the court, with such costs as it thinks reasonable, and such award and the judgment thereon shall not be subject to question or appeal in any court whatever.
S. 47A inserted by No. 64/1990 s. 9(1), amended by No. 47/2010 s. 84(2).