Which permanent settlement machinery has been mentioned in the Industrial Disputes Act, 1947 accountable for the speedy and amicable settlement of industrial disputes?

Section 4 of the Industrial Dispute Act, 1947 lays down the function of a conciliation officer which is to create a kindred atmosphere within the industry which will help the parties to settle the disputes between them. A conciliation officer is required to hold proceedings, carry out investigations regarding the dispute in a fair manner to help the parties arrive at a settlement. They are appointed to regulate settlement disputes for a specified area either for a temporary time period or permanently. While Section 11 of the Industrial Dispute Act, 1947 lays down the powers vested upon a conciliation officer, Sections 12 and 13 are meant for dealing with the duties of the conciliation officer.