61(1)The Superintendent may by order require the wind-up of a pension plan, in whole or in part, on such date and with such notice as in the opinion of the Superintendent are appropriate, if
(a)
there is a cessation or suspension of employer contributions to the pension fund,
(b)
there is a cessation or suspension of crediting service for pension benefits to members under the plan,
(c)
the employer is bankrupt within the meaning of the Bankruptcy Act, chapter B-3 of the Revised Statutes of Canada, 1970,
(d)
a significant number of members of the pension plan have terminated employment as a result of the discontinuance of all or part of the business of the employer, or as a result of the reorganization of the business of the employer,
(e)
the provisions of this Act or regulations are not being complied with,
(f)
all or part of the employer’s business or all or part of the assets of the employer’s business are sold, assigned or otherwise disposed of and the person who acquires the business or assets does not provide a pension plan for the members of the employer’s pension plan who become employees of that person,
(g)
in the case of a multi-employer pension plan,
(i)
there is a significant reduction in the number of members, or
(ii)
there is a cessation of contributions under the pension plan or a significant reduction in such contributions, or
(h)
any other prescribed event or circumstance occurs.
61(2)In an order under subsection (1), the Superintendent shall specify the effective date of the wind-up, the persons or class or classes of persons to whom the administrator shall give notice of the order and the information that shall be given in the notice.
61(1)The Superintendent may by order require the wind-up of a pension plan, in whole or in part, on such date and with such notice as in the opinion of the Superintendent are appropriate, if
(a)
there is a cessation or suspension of employer contributions to the pension fund,
(b)
there is a cessation or suspension of crediting service for pension benefits to members under the plan,
(c)
the employer is bankrupt within the meaning of the Bankruptcy Act, chapter B-3 of the Revised Statutes of Canada, 1970,
(d)
a significant number of members of the pension plan have terminated employment as a result of the discontinuance of all or part of the business of the employer, or as a result of the reorganization of the business of the employer,
(e)
the provisions of this Act or regulations are not being complied with,
(f)
all or part of the employer’s business or all or part of the assets of the employer’s business are sold, assigned or otherwise disposed of and the person who acquires the business or assets does not provide a pension plan for the members of the employer’s pension plan who become employees of that person,
(g)
in the case of a multi-employer pension plan,
(i)
there is a significant reduction in the number of members, or
(ii)
there is a cessation of contributions under the pension plan or a significant reduction in such contributions, or
(h)
any other prescribed event or circumstance occurs.
61(2)In an order under subsection (1), the Superintendent shall specify the effective date of the wind-up, the persons or class or classes of persons to whom the administrator shall give notice of the order and the information that shall be given in the notice.