The Industrial Disputes (Banking and Insurance Companies) Act, 1949
Section 4. Prohibition of references by State Governments of certain industrial disputes for adjudication, inquiry or settlement
4. Prohibition of references by 1[State] Governments of certain industrial disputes for adjudication, inquiry or settlement.--Notwithstanding anything contained in any other law, it shall not be competent for a State Government or any officer or authority subordinate to such Government to refer an industrial dispute concerning any banking or insurance company, or any matter relating to such dispute, to any tribunal or other authority for adjudication, inquiry or settlement.
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