Completion of conciliation proceeding

A conciliation proceeding shall be deemed to have been completed- (i) when a memorandum of the settlement arrived at in such proceeding is signed by the parties under sub-section (1) of section 43; or (ii) when the parties agree in writing to submit the dispute to arbitration, or (iii) if no settlement is arrived at when the notification under sub-section (5) of section 43 is published; or (iv) when the time limit fixed for the completion of such proceeding under section 45 has expired. Explanation- When an industrial dispute is settled in regard to some of the industrial matters included therein, the conciliation proceeding in regard to those matters only shall be deemed to have been completed within the meaning of this section.