A multiway valve which includes an axially positionable regulating member therein. The regulating member includes a diaphragm sealingly connected thereto which has a sealing lip extending radially therefrom which contacts the inner valve wall and an elastically deformable annular projection which is fixedly positioned in contact with the valve body which suspends the diaphragm within the central bore of the valve body. The diaphragm includes a surface engageable with a valve seat of the valve to contact fluid communication between tapped bores in the multiway valve.
