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Section 1 – The Industrial Disputes (Banking and Insurance Companies) Act,1949

The Industrial Disputes (Banking and Insurance Companies) Act,1949

1. Short title and extent.

(ACT NO.54 OF 1949)1[AS ON 1995]

[14th December,1949.]

STATEMENT OF OBJECTS AND REASONS

Prior to the promulgation on the 30th April,1949 of the Industrial Disputes (Banking and Insurance Companies) Ordinance, disputes in banks and insurance companies were the responsibility of Provincial Governments.

Provincial Governments were the “appropriate authority” under the Industrial Disputes Act,1947.Besides this Central enactment, three Provinces, viz., Bombay, the United Provinces and the Central Provinces and Berar, have provincial labour relations enactments of their own under which also control over disputes in banks and insurance companies rested with the Provincial Governments. A bank with branches in several Provinces had, therefore, to deal with a number of Provincial Governments and a number of agencies including tribunals set up by them for the settlement of disputes arising in its establishments. It was only to be expected that under such an arrangement it would be difficult for an organisation with country-wide establishments to maintain any principle of uniformity in the matter of wages, allowances and other terms and conditions of employment of its staff. While the question of undertaking the necessary legislation for removing this drawback was under consideration, a major dispute affecting the staff of a large number of banks in the United Provinces and having branches in various Provinces forced the issue and called for the intervention of the Central Government.

There was every indication of similar disputes arising in other Provinces also. It was, therefore, considered urgently necessary for the Centre to intervene. The Industrial Disputes (Banking and Insurance Companies) Ordinance,1948, was accordingly promulgated on the 30th April,1949.According to that Ordinance the responsibility for dealing with disputes in banks and insurance companies having branches in more than one Province passed over to the Central Government. As the Ordinance was to expire on the 30th October,1949 it had to be replaced by a second Ordinance. It is now proposed to replace that Ordinance by an Act. The provisions contained in the Bill will eventually be included in the comprehensive legislation relating to the revision of the Industrial Disputes Act,1947, now under the consideration of the Government.

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. The Act has been extended to the Scheduled Areas of the State of Orissa by Orissa Reg.1.of 1956 and amended in U.P. by U.P. Act 25 of 1951.

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The Industrial Disputes (BIC) Act,1949

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