Section 116(3) in Bombay Industrial Relations Act, 1946
(3)Notwithstanding anything contained in sub-section (1) or (2), If a registered agreement or a settlement or award provides that it shall remain in force for a period exceeding one year, it may after the expiry of one year from the date of its commencement be terminated by either party thereto giving two months' notice in the prescribed manner to the other party.
