Wind up report

(1) A wind up report required to be filed under section 44 of the Act shall be prepared byCAP. 30:01. (a) an actuary; or Private Pensions 57 (b) where all pension benefits are defined contribution benefits or the pension plan is an insured plan and does not require any contributions to be made by employees, by an accountant or by a trust corporation responsible for administering the pension plan or fund. (2) If a defined benefit pension plan is being wound up, the minimum actuarial equivalent of a pension, deferred pension or ancillary benefit shall be the amount required to purchase the benefit from an insurance company licensed to carry on business in Belize. (3) The administrator shall file the wind up report within six months following the date of termination of the plan, or may apply to the Supervisor for an extension, providing him with full details for the cause of the delay, and the Supervisor may or may not approve such application. (4) In addition to the wind up report required under section 44 of the Act, the administrator shall file any outstanding annual information report required to be filed up to the date of wind up of the pension plan within six months after the date of wind up. CAP. 30:01. (5) Payments of refunds of employee contributions with interest to persons not entitled to a pension, deferred pension or ancillary benefit are prescribed for the purposes of section 45(c) of the Act. CAP. 30:01.