Section 48

At any time after proceedings have been commenced before the Compensation Board but before compensation is finally assessed, the Corporation may make an offer in writing of the kind described in section 46(6)(a) or the claimant may by notice to the Corporation offer a sum (inclusive or exclusive of costs) which he is willing to accept in full and final settlement of his claim or any rejected part thereof.

Where an offer made by the Corporation pursuant to section 46(6)(a) or by the Corporation or the claimant pursuant to subsection (1) is not accepted by the other party, no part of the contents thereof which relates to any part of a claim before the Compensation Board shall be disclosed to the Compensation Board until the amount of compensation for that part is assessed by it but a copy of the offer enclosed in a sealed envelope may be lodged with the President and opened by him after the Compensation Board has made its assessment.

Where the Corporation has made any offer pursuant to section 46(6)(a) which is refused by the claimant or either party has made any offer pursuant to subsection (1) which is refused by the other and the compensation including costs, if any, assessed by the Compensation Board does not exceed the amount of compensation including costs, if any, comprised in the offer, the Compensation Board shall, unless for special reasons it thinks it proper not to do so, order the party who refused the offer to bear his own costs and to pay the costs of the other party in so far as the costs of either party are incurred after the making of the offer.[40