Supplementary Provisions, Article 49

①Where the surviving Pension Fund Association is carrying out the business set forth in Article 40, paragraph (2), item (v) of the Supplementary Provisions, a member, etc. of a terminated plan (meaning a member, etc. of a terminated plan prescribed in Article 91-22, paragraph (1) of the amended Defined-Benefit Corporate Pension Act; the same applies hereinafter in this Article) may apply to the liquidator of that defined-benefit corporate pension for the transfer to the surviving Pension Fund Association of the residual assets (hereinafter referred to in this Article as "residual assets") to be distributed to members, etc. of a terminated plan pursuant to the provisions of Article 89, paragraph (6) of the amended Defined-Benefit Corporate Pension Act.

②When an application has been made under the preceding paragraph, the asset management and investment institution, etc. of that defined-benefit corporate pension is to transfer to the surviving Pension Fund Association the residual assets to which the application pertains.

③When the surviving Pension Fund Association has received the transfer of residual assets pursuant to the preceding paragraph, it is to pay, using the transferred Funds as the source and as specified by Cabinet Order, the surviving Pension Fund Association survivor benefit to that member, etc. of a terminated plan.

④The provisions of Article 49, Article 51, paragraphs (1) and (3), Article 53 and Article 54 of the amended Defined-Benefit Corporate Pension Act apply mutatis mutandis to the surviving Pension Fund Association survivor benefit referred to in the preceding paragraph. In this case, Cabinet Order provides for the necessary technical replacement of terms.

⑤Notwithstanding the provisions of Article 51, paragraph (1) of the amended Defined-Benefit Corporate Pension Act as applied mutatis mutandis pursuant to the preceding paragraph, when that member, etc. of a terminated plan dies, the surviving Pension Fund Association may, as provided by its articles of Association, pay the surviving Pension Fund Association survivor benefit (limited to that paid as a lump sum; the same applies in the following paragraph) to the surviving family of the next order of priority of that member, etc. of a terminated plan.

⑥The surviving family referred to in the preceding paragraph are the persons set forth in the items of Article 48 of the amended Defined-Benefit Corporate Pension Act pertaining to that member, etc. of a terminated plan, and the order of priority of the surviving family who may receive the surviving Pension Fund Association survivor benefit is as provided by the articles of Association of the surviving Pension Fund Association. In this case, the phrase "person eligible for benefits" in Article 48, item (i) of the amended Defined-Benefit Corporate Pension Act is deemed to be replaced with "member, etc. of a terminated plan prescribed in Article 91-22, paragraph (1) of the amended Defined-Benefit Corporate Pension Act (hereinafter referred to in this Article as "member, etc. of a terminated plan")", and the phrase "person eligible for benefits" in Article 48, items (ii) and (iii) of the amended Defined-Benefit Corporate Pension Act with "member, etc. of a terminated plan".

⑧The provisions of Article 46, paragraph (6) of the Supplementary Provisions apply mutatis mutandis to the notice under the provisions of Article 47, paragraph (5) of the Supplementary Provisions as applied mutatis mutandis with replacement of terms in the preceding paragraph.