(1) An agreement establishing one or more information and consultation arrangements may be negotiated by the employer and the employees or their representatives (or both) (to be known and in this Act referred to as a "negotiated agreement").

(2) A negotiated agreement shall be -

(a) in writing and dated,

(b) signed by the employer,

(c) approved by the employees,

(d) applicable to all employees to whom the agreement relates, and

(e) available for inspection by those persons and at the place agreed between the parties.

(3) For the purposes of subsection (2)(c), the agreement shall be regarded as having been approved by the employees -

(a) where a majority of those employees employed in the undertaking who cast a preference do so in favour of the terms of the agreement,

(b) where a majority of employee representatives, elected or appointed for the purposes of negotiations under this Act, approve the agreement in writing, or