The Central Government may, after settlement is arrived at between the Dock Labour Board of any major port, its workmen and the management of that major port in accordance with the provisions of the Industrial Disputes Act, 1947 (14 of 1947), direct, by notification in the Official Gazette that the provisions of the Dock Workers (Regulation of Employment) Act, 1948 (9 of 1948), shall cease to have effect in relation to that major port with effect from the date specified in that notification.