Section 65Part 9 — Termination and Winding Up
Liability of employer on termination
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Where a pension plan is terminated in whole or in part, the employer or each participating employer shall pay into the pension fund an amount equal to the total of all payments that, under this Act, the regulations and the pension plan, are due or that have accrued and that have not been paid into the pension fund.
The employer shall pay the money due under subsection (1) in the prescribed manner and at the prescribed times.
In any case where —
any warrant of distress is executed against the property of an employer and the property is seized or sold in pursuance of the execution; or
on the application of a secured creditor the property of an employer is sold,
the proceeds of the sale of the property shall not be distributed to any person entitled thereto until the court ordering the sale has made provision for the payment into a pension fund of any amounts due in respect of both contributions payable by the employer and employees contributions deducted from the payroll but not credited to the pension fund.