#THE INDUSTRIAL DISPUTES (BANKING AND INSURANCE COMPANIES) ACT, 1949 
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##ARRANGEMENT OF SECTIONS 
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SECTIONS 
1. Short title and extent. 
2. Definitions. 
3. [Repealed.] 
4. Prohibition of references by State Governments of certain industrial disputes for adjudication, 
  inquiry or settlement. 
5. Abatement of proceedings relating to disputes pending before State tribunals and reference of 
  such disputes to tribunals constituted by the Central Government. 
6. Powers of Central Government to refer disputes in respect of which awards or decisions have 
  been made for adjudication. 
7. Repeal of Ordinance 28 of 1949. 



#THE INDUSTRIAL DISPUTES (BANKING AND INSURANCE COMPANIES) ACT, 1949 

##ACT NO. 54 OF 1949 

[14th December, 1949.] 

An Act  to  provide  for  the  adjudication  of  industrial  disputes  concerning  certain  banking  and 
  insurance companies. 

  WHEREAS it is expedient to provide for the adjudication of industrial disputes concerning banking and 
insurance companies having branches or other establishments in more than one State; 

  It is hereby enacted as follows:— 

1. **Short title and extent.**—(1)  This  Act  may  be  called  the  Industrial  Disputes  (Banking  and 
Insurance Companies) Act, 1949. 

(2) It extends to the whole of India except the State of Jammu and Kashmir[^1]. 

2. **Definitions.**—In  this  Act,  unless  there  is  anything  repugnant  in  the  subject  or  context,  the 
expressions  “award”,  “banking  company”,  “industrial  dispute”  and  “insurance  company”  have  the 
meanings respectively assigned to them in section 2 of the Industrial Disputes Act, 1947 (14 of 1947) as 
amended by this Act. 

3. *[Amendment  of  section  2,  Act  14  of  1947.]  Rep.  by  the  Repealing  and  Amending  Act,  1952* 
(48 of 1952), s. 2 *and the First Schedule.* 

4. **Prohibition of references by 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. 

5. **Abatement of proceedings relating to disputes pending before State tribunals and reference 
of such disputes to tribunals constituted by the Central Government.**—(1) Where under any law any 
industrial  dispute  concerning  any  banking  or  insurance  company  or  any  matter  relating  to  such  dispute 
has,  before  the  30th  day  of  April,  1949,  been  referred  by  a State Government or any officer  or 
authority subordinate to such Government to any tribunal or other authority for adjudication or settlement 
and  any  proceedings  in  respect  of  or  arising  out  of  such  reference  were  immediately  before  that  date 
pending before any tribunal or other authority, then on the aforesaid date such refence shall be deemed to 
have been withdrawn and all such proceedings shall have abated. 

(2) The Central Government shall, as soon as may be after the commencement of this Act, by order in 
writing,  refer  under  section  10  of  the  said  Act  every  industrial  dispute  to  which  the  provisions  of 
sub-section (1) apply to an Industrial Tribunal constituted under the said Act for adjudication. 

6. **Powers of Central Government to refer disputes in respect of which awards or decisions have 
been made for adjudication.**—(1)  Where  any  award  or  decision  has  been  made  in  respect  of  any 
industrial  dispute  concerning  any  banking  or  insurance  company  by  any  tribunal  or  other  authority 
constituted  or  appointed  by  a State Government, or any officer or authority subordinate to such 
Government,  then  the  Central  Government  may,  notwithstanding  that  the  said  award  or  decision  is  in 
force, by order in writing refer under section 10 of the said Act the dispute or any of the matters in dispute 
to an Industrial Tribunal constituted under the said Act for  adjudication and stay the implementation of 
the award or decision so made or of any part of such award or decision until the Industrial Tribunal to 
which the dispute or any of the matters in dispute is referred for adjudication has submitted its award or 
for such further period as the Central Government may consider necessary. 

(2) After  the  Industrial  Tribunal  to  which  the  dispute  or  any  of  the  matters  in  dispute  has  been  so 
referred for adjudication has submitted its award under sub-section (1) of section 15 of the said Act, the 
Central  Government  may,  by  order  in  writing,  declare  that  the  award  or  decision  previously  made  in 
respect  of  such  dispute  by  the  tribunal  or  other  authority  constituted  or  appointed  by  the State 
Government  or  any  officer  or  authority  subordinate  to  such  Government  or  such  part  of  that  award  or 
decision as may be specified in the order shall cease to be in operation. 

7. **Repeal of Ordinance 28 of 1949.**—(1) The Industrial Disputes (Banking and Insurance 
Companies) Second Ordinance, 1949 (28 of 1949) is hereby repealed. 

(2) Notwithstanding  such  repeal,  anything  done  or  any  action  taken  in  the  exercise  of  any  power 
conferred by or under the said Ordinance shall be deemed to have been done or taken in the exercise of 
the powers conferred by or under this Act, as if this Act were in force on the day on which such thing was 
done or action taken.



[^1]. Vide Notification No. S.O. 3912 (E), dated 30th October, 2019, this Act is made applicable to the Union territory of Jammu 
and Kashmir and the Union territory of Ladakh. 