199. On receipt of a notice of termination, the Régie may either confirm the decision of the employer or, if the circumstances so justify, decide that the plan is not terminated, change the total or partial character of the termination indicated in the notice, reduce or increase the number of members affected or fix a different termination date.
The Régie may also terminate a pension plan in whole or in part where an employer who has not transmitted a notice of termination fails to collect member contributions or to pay into the pension fund or to the insurer his employer contributions or the member contributions he has collected, or where there is a decrease in the number of active members.
However, before amending the notice of termination or terminating the plan in whole or in part, the Régie shall give the pension committee an opportunity to present observations.
1989, c. 38, s. 199; 1997, c. 43, s. 654.