Australia and Malaysia are set to strike a deal on who will handle the missing Malaysia Airlines MH-370 plane's wreckage and the black box once they are found.

Reports said Malaysia is preparing the agreement, taking into account the two nations' responsibilities and safety from any legal action that may arise during the recovery mission.

Like Us on Facebook

The Malaysian government said it will expedite the Memorandum of Understanding (MOU) to make it final and then submit it to the concerned officials.

Reports said the Australian government is still studying the provisions of the MOU .

Officials said Malaysia will be the overall investigator with Australia and other nations helping out. Malaysia said the contents of the agreement will not be made public.

The Malaysia Airlines MH-370 carrying 239 passengers, majority of them Chinese citizens,  was on its way to Beijing when it mysteriously disappeared. Aviation experts said the plane crashed into the southern Indian Ocean.

A multinational search have been conducted to find the plane but so far, no wreckage and black boxes have been recovered.

Angry families of the missing passengers have accused Malaysia of lying and hiding vital information from them.But Malaysia continued to deny the accusations and said they have been forthcoming in their dealings with them and have been relaying the information they have.