(1) Settlement arrived at in the conciliation proceedings or otherwise, shall be in Form H.
(2) The settlement shall be signed by—
(a) in the case of an employer, by the employer himself, or by his authorised agent, or when the employer is an incorporated company or other body corporate, by the agent, manager or other principal officer of the Corporation;
(b) in the case of workmen, either by the President and Secretary of a trade union of workmen or by five representatives of the workmen, duly authorised in this behalf at a meeting of the workmen held for the purpose.
(3) Where a settlement is arrived at in the course of conciliation proceeding, the Conciliation Officer shall send a report thereof to the Secretary to the Government of Bihar, Labour Department together with the memorandum of settlement signed by the parties to the dispute or an attested copy thereof.
(4) Where, a settlement is arrived at between an employer and his workmen otherwise than in the course of conciliation proceeding before a Board or a Conciliation Officer, the parties to the settlement shall jointly send an attested copy thereof to the Conciliation Officer of the area, the Labour Commissioner and the Secretary to the Government of Bihar, Labour Department.