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<h1>Settlement application procedure: applicants must submit prescribed undertakings and full disclosures to seek settlement under the regulations.</h1> Regulation 3 permits persons facing specified proceedings to apply for settlement using the prescribed form, pay the non refundable fee, and submit the prescribed undertakings and waivers. Applicants must make full and true disclosures, and facts admitted or established in related proceedings are deemed admitted for settlement. One consolidated application is required for the same cause of action; incomplete applications are returned with a fifteen day cure period, and entities must have responsible persons execute the application and waivers, which bind the entity and officers in default.