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Conciliation proceedings, not be commenced or continued in certain cases—No conciliation proceeding in respect of an industrial dispute shall- (a) be commenced if— (i) the representative of employees directly effected by the dispute [ * * ] is a party to a submission relating to such dispute or a dispute relating to an industrial matter similar to that regarding which the dispute has arisen; (ii) it has been referred to arbitration under the provisions of section 51 or 52, (iii) by reason of a direction issued under sub-section (2) of section 97 or by reason of any of the other provisions of this Act the employers and employees concerned are in respect of the dispute bound by a registered agreement, settlement, submission or award. (b) be continued after the date on which- (ii) the dispute is referred to arbitration under section 51 or 52, (iii) the direction referred to in sub-clause (iii) of clause (a) is issued.