(1) A collective agreement shall—
(a) be committed to writing and signed by the parties to the agreement;
(b) contain the date of its duration;
(c) contain effective procedures for the avoidance and settlement of rights and interests disputes which procedures may include a reference of any dispute to conciliation, mediation or arbitration;
(d) contain provisions for the settlement of all differences arising out of the interpretation, application and administration of the agreement;
(e) provide for such other matters as may be agreed between the parties to the agreement;
(f) be signed in the presence of and lodged with the Labour Commissioner or his or her representative.
(2) Nothing in this section shall affect the validity of a collective agreement which is valid and existing immediately before the coming into force of this Division and such agreement shall remain in force until it expires or is replaced by another collective agreement.