Surplus Ongoing Plan

(1) No surplus may be paid out of an ongoing pension fund without the prior consent of the Supervisor. Plan. (2) In consenting to the payment of surplus out of a pension fund, the Supervisor shall consider the factors prescribed in the (3) A pension plan that does not provide for the withdrawal of surplus money while the pension plan continues in existence shall be construed to prohibit the withdrawal of surplus money. (4) A written agreement among the following persons may provide for payment of surplus to the employer if the surplus is to be paid to the employer from an ongoing pension plan– (a) the employer; (b) at least two-thirds of the active members of the pension plan (and, for this purpose, a registered trade union that represents or represented members on the date of the wind up may agree on behalf of those members); and (c) the number which is considered appropriate in the circumstances by the Supervisor of former 48 members and other persons who are entitled to payments under the pension plan as of the date of the wind up.