Common use of APPLICABLE SITUATIONS Clause in Contracts

APPLICABLE SITUATIONS. Applicable situations 10. (1) Subject to subsections (2) to (4), the assets of a pension plan shall be allocated into portions in accordance with this Part when: (a) the plan is amended so that part of the liability of the plan to pay benefits or other amounts to persons so entitled under the plan is transferred to a different pension plan, and where, as part and in consideration of that transfer of liability, part of the assets of the plan are transferred to the different plan; (b) a pension supervisory authority orders or otherwise requires the splitting of the assets and liabilities of the plan, as described in clause (c) of subsection (3) of section 4; (c) the plan has more than one participating employer and an employer withdraws from the plan, and pension legislation requires that the rights and benefits accrued under the plan be divided into groups, one of which consists of the rights and benefits of persons affected by the withdrawal; (d) the plan is being wound up in part; (e) the plan is being fully wound up; or (f) a situation not described in clauses (a) to (e) occurs and assets of the plan related to a jurisdiction are to be paid to an employer that participates in the plan in accordance with the pension legislation of that jurisdiction, other than a payment to an employer related to plan expenses under clause (f) of paragraph 4 of section 1 of Schedule B or a refund of contributions to an employer under clause (e) of paragraph 6 of section 1 of Schedule B.