Section 60(2) in THE INDUSTRIAL RELATIONS CODE, 2020
(2)A conciliation proceeding shall be deemed to have concluded-(a)where a settlement is arrived at, when a memorandum of the settlement is signed by the parties to the dispute;(b)where no settlement is arrived at, and failure of conciliation is recorded by the conciliation officer; or(c)when a reference is made to a National Industrial Tribunal, under this Code, during the pendency of conciliation proceedings.
