①A voluntary dissolution Fund and the employer of its establishing place of business (meaning the establishing place of business prescribed in Article 117, paragraph (3) of the pre-amendment Employees' Pension Insurance Act, which remains in force pursuant to the provisions of Article 5, paragraph (1) of the Supplementary Provisions; the same applies hereinafter) (where the voluntary dissolution Fund has been jointly established, each employer that has established it; the same applies in the following paragraph and paragraph (7)) may each prepare a plan for the payment (hereinafter referred to as a "voluntary dissolution Fund payment plan") of the portion of the liability reserve equivalent that it is itself to pay, submit it to the Minister of Health, Labour and Welfare as specified by Order of the Ministry of Health, Labour and Welfare, and receive approval that the voluntary dissolution Fund payment plan is appropriate.

②The application for approval referred to in the preceding paragraph must be made simultaneously by the voluntary dissolution Fund and the employers of its establishing places of business, within the period up to the day on which five years elapse from the Effective Date.

③The voluntary dissolution Fund payment plan of a voluntary dissolution Fund must state the following particulars:

④The voluntary dissolution Fund payment plan of the employer of the establishing place of business of a voluntary dissolution Fund must state the following particulars:

⑤When the application for approval referred to in paragraph (1) is made, the amount obtained by adding together the amount set forth in paragraph (3), item (ii) stated in the voluntary dissolution Fund payment plan of the voluntary dissolution Fund and the amount set forth in item (i) of the preceding paragraph stated in the voluntary dissolution Fund payment plan of the employer of the establishing place of business of the voluntary dissolution Fund (where the employers of the establishing place of business of the voluntary dissolution Fund have jointly established the voluntary dissolution Fund, the total of the amounts set forth in that item stated in the voluntary dissolution Fund payment plans of each employer that has established the voluntary dissolution Fund) must be the liability reserve equivalent of the voluntary dissolution Fund.

⑥The provisions of paragraphs (3) and (4) of the preceding Article apply mutatis mutandis to a voluntary dissolution Fund that has applied for approval under paragraph (1). In this case, the phrase "the certification referred to in the following paragraph" in paragraph (4) of that Article is deemed to be replaced with "the approval referred to in paragraph (1) of the following Article".

⑦When an application for approval under paragraph (1) has been made, the Minister of Health, Labour and Welfare is to give the approval if the Minister finds that the application meets all of the following requirements. In this case, the approval of the voluntary dissolution Fund payment plans of the voluntary dissolution Fund and of the employers of its establishing places of business is to be given simultaneously:

⑧In giving approval pursuant to the provisions of the preceding paragraph, the Minister of Health, Labour and Welfare is to give certification to that effect if the Minister finds that the voluntary dissolution Fund has made significant efforts in the operation of its business up to the day of the application for approval and, on the day of the application for approval, meets the requirements specified by Cabinet Order as being in a situation where the continuation of its business is extremely difficult.

⑨When the Minister of Health, Labour and Welfare intends to give approval pursuant to the provisions of paragraph (7), and when the Minister intends to give the certification referred to in the preceding paragraph, the Minister must in advance hear the opinions of the Social Security Council.

⑩In the case of applying the provisions of Article 10 of the Supplementary Provisions to a voluntary dissolution Fund that has applied for approval under the provisions of paragraph (1), in paragraph (1) of that Article, the phrase "surviving employees' pension Fund" is deemed to be replaced with "voluntary dissolution Fund prescribed in paragraph (1) of the following Article that has applied for approval under Article 12, paragraph (1) of the Supplementary Provisions", the phrase "specified in the following items" is deemed to be replaced with "of Article 13, paragraph (1) of the Supplementary Provisions", the phrase "even before the authorization or approval set forth in those items" is deemed to be replaced with "even before the authorization set forth in item (i)", and the phrase "liability reserve equivalent" is deemed to be replaced with "amount of reserves for pension benefits, etc. (meaning the amount of reserves for pension benefits, etc. prescribed in paragraph (1) of the following Article; the same applies in paragraph (3))", and in paragraph (3) of that Article, the phrase "liability reserve equivalent" is deemed to be replaced with "amount of reserves for pension benefits, etc.".

①When a voluntary dissolution Fund and the employer of its establishing place of business have received the approval referred to in paragraph (1) of the preceding Article, and that voluntary dissolution Fund has been dissolved pursuant to the provisions of Article 145, paragraph (1), item (i) or (ii) of the pre-amendment Employees' Pension Insurance Act, which remains in force pursuant to the provisions of Article 5, paragraph (1) of the Supplementary Provisions (limited to the case where the amount of reserves for pension benefits, etc. on the day of dissolution falls below the liability reserve equivalent), the government, notwithstanding the provisions of Article 8 of the Supplementary Provisions, in collecting the liability reserve equivalent, is to collect the amount of reserves for pension benefits, etc. on the day of dissolution from that voluntary dissolution Fund, and the amount obtained by deducting that amount of reserves for pension benefits, etc. from the liability reserve equivalent from the employer of its establishing place of business, based on the voluntary dissolution Fund payment plan of that employer. In this case, the provisions of Article 138, paragraph (6) of the pre-amendment Employees' Pension Insurance Act, which remains in force pursuant to the provisions of Article 5, paragraph (1) of the Supplementary Provisions and the provisions of Article 34, paragraph (4) of the Supplementary Provisions do not apply.

②In making the collection under the provisions of the preceding paragraph, the government is to grant a grace period for payment based on the voluntary dissolution Fund payment plan of the employer of the establishing place of business of the voluntary dissolution Fund.

③The provisions of Article 11, paragraph (8) of the Supplementary Provisions apply mutatis mutandis to the case where, pursuant to the provisions of paragraph (1), the government collects the amount of reserves for pension benefits, etc. from the voluntary dissolution Fund and collects, from the employer of its establishing place of business, the amount obtained by deducting that amount of reserves for pension benefits, etc. from the liability reserve equivalent. In this case, the phrase "and the reduced liability reserve equivalent" in item (ii) of that paragraph is deemed to be replaced with "and the period and amount for which the employer of its establishing place of business seeks to receive a grace period for payment, set forth in item (ii) of paragraph (4) of that Article and stated in the voluntary dissolution Fund payment plan prescribed in paragraph (1) of the following Article".

④When the government has granted a grace period for payment pursuant to the provisions of paragraph (2), it must notify the employer of the establishing place of business of the voluntary dissolution Fund of that fact, the grace period and the amount subject to the grace period concerning that employer, and other necessary matters.

①In the case where the government has granted a grace period for payment pursuant to the provisions of paragraph (2) of the preceding Article, when the Minister of Health, Labour and Welfare finds that there is an unavoidable reason why the amount subject to the grace period cannot be paid within the period for which the grace period was granted, the Minister may, upon application by the employer of the establishing place of business of the voluntary dissolution Fund, approve a modification of the voluntary dissolution Fund payment plan of that employer, such as an extension of the period for which it seeks to receive a grace period for payment. However, that period may not exceed 15 years (30 years for the employer of the establishing place of business of a voluntary dissolution Fund that has received the certification under Article 12, paragraph (8) of the Supplementary Provisions) when combined with the period for which a grace period has already been granted to that employer based on the voluntary dissolution Fund payment plan.

②When the Minister of Health, Labour and Welfare intends to give approval pursuant to the provisions of the preceding paragraph, the Minister must in advance hear the opinions of the Social Security Council.

③In the case where the government has granted a grace period for payment pursuant to the provisions of paragraph (2) of the preceding Article, when the Minister of Health, Labour and Welfare finds it necessary due to a change in the status of property or other circumstances, the Minister may request the employer of the establishing place of business of the voluntary dissolution Fund to make, by a specified deadline, a modification of the voluntary dissolution Fund payment plan, such as a shortening of the period for which it seeks to receive a grace period for payment, and to submit it to the Minister.

④The provisions of paragraph (1) apply mutatis mutandis to the case where the Minister of Health, Labour and Welfare has requested, pursuant to the provisions of the preceding paragraph, that a modification of the voluntary dissolution Fund payment plan be made and submitted. In this case, the phrase "there is an unavoidable reason why the amount subject to the grace period cannot be paid within the period for which the grace period was granted" in paragraph (1) is deemed to be replaced with "it is necessary due to a change in the status of property of the employer of the establishing place of business of the voluntary dissolution Fund or other circumstances", the phrase "the employer of the establishing place of business of the voluntary dissolution Fund" is deemed to be replaced with "that employer", and the phrase "extension" is deemed to be replaced with "shortening".

⑤When approval of a modification of a voluntary dissolution Fund payment plan has been given pursuant to the provisions of paragraph (1) (including as applied mutatis mutandis pursuant to the preceding paragraph), the government is to grant a grace period for payment based on the voluntary dissolution Fund payment plan as modified.

⑥The provisions of paragraph (4) of the preceding Article apply mutatis mutandis to the case where the government has granted a grace period for payment pursuant to the provisions of the preceding paragraph. In this case, the necessary technical replacement of terms is specified by Cabinet Order.

①If the employer of the establishing place of business of a voluntary dissolution Fund that has received approval of a voluntary dissolution Fund payment plan falls under any of the following items, the Minister of Health, Labour and Welfare may rescind the approval of the voluntary dissolution Fund payment plan of that employer:

②When the Minister of Health, Labour and Welfare has rescinded the approval of a voluntary dissolution Fund payment plan pursuant to the provisions of the preceding paragraph, the government is to rescind the grace period for payment granted on the basis of that plan.

③When the government has rescinded a grace period for payment pursuant to the provisions of the preceding paragraph, it must notify the employer of the establishing place of business of the voluntary dissolution Fund of that fact.