Industrial Disputes (Banking and Insurance Companies) Act, 1949

4. Prohibition of Reference by State Government of Certain Industrial Disputes for Adjudication, Inquiry or Settlement. –

Notwithstanding anything contained in my 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 disputes, to any tribunal or other authority for adjudication, inquiry or settlement.