Industrial Relations Act, 2012 — section 40

40. Arbitration..—(1) If the conciliation fails, the Conciliator shall try to persuade the parties to agree to refer the dispute to an arbitrator. In case the parties agree, they shall make a joint request in writing for reference of the dispute to an arbitrator agreed upon by them.

(2)The arbitrator to whom a dispute is referred under sub-section (1) may be a person borne on a panel to be maintained by the Commission or any other person agreed upon by the parties.

(3)The arbitrator shall give his award within a period of thirty days from the date on which the dispute is referred to him under sub-section (1) or such further period as may be agreed upon by the parties to the dispute.

(4)After he has made an award, the arbitrator shall forward a copy thereof to the parties and to the Government for publication in the official Gazette.

(5)The award of the arbitrator shall be final and no appeal shall lie against it.

(6)The award shall be valid for a period not exceeding two years, as may be fixed by the arbitrator. CHAPTER-VII STRIKES AND LOCK-OUT