Agreement etc., when to cease to have effect

(1) A registered agreement or a settlement or award shall cease to have effect on the date specified therein or if no such date is specified therein on the expiry of the period of two months from the date on which notice in writing to terminate such agreement, settlement or award, as the case may be, is given in the prescribed manner by any of the parties thereto to the other parties; Provided that no such notice shall be given till the expiry of' six months after the agreement, settlement or award comes into operation. (2) Nothing in this section shall prevent the terms of a registered agreement or a settlement or an award in terms of an agreement being changed or modified by mutual consent of the parties affected thereby and the registered agreement, settlement or award shall be deemed to be changed or modified accordingly. (3) Omitted (4) The party giving notice under sub-section (1) Omitted shall send a copy of it to the Registrar and the Labour Officer of the local area concerned. (5) If a registered agreement or a settlement or an award is terminated under sub-section (1) or if the terms of a registered agreement or a settlement or an award are changed or modified by mutual consent, notice of such termination, change or modification shall be given by the parties concerned to the Registrar and the Labour Officer. The Registrar shall enter the notice of such termination, change or modification in a register kept for the purpose. Explanation—For the purposes of this section, parties who shall be competent to terminate a registered agreement or a settlement or an award or to change or to modify the terms of a registered agreement or a settlement or an award and who shall give notice of such termination, change or modification under sub-section (5) shall be the employer, who has signed the agreement or settlement or who is a party to the award or the heirs, successors or assigns of such employer in respect of the undertaking concerned and the - representative of the employees affected by the agreement, settlement or award. expiry of the period specified in sub-section (2), to a Labour Court, the Industrial Court or the Board making the award for its modification. (2) Such application in the case of an award- (a) which does not specify a date on which it shall cease to have effect shall not be made until the expiry of the period of two months, from the date on which notice can be given to terminate the award under section 99; (b) [Omitted] (3) On such application being made, the Labour Court, the Industrial it or the Board, as the case may be, after hearing the parties and taking evidence as it thinks fit, may modify the award with effect from such date not earlier than the date of application under sub-section (1), as it may specify. (4) Where an application for the modification of an award under sub-section (1) is made, such application shall not in any way affect the binding of such award in regard to the matters determined therein until it is modified. (5) Nothing in this section shall affect the right of any party to terminate award in accordance with the provisions of section 99.