①A liquidation-type Fund and the employer of its establishing place of business (where the liquidation-type Fund is established jointly, each employer that has established the liquidation-type Fund; the same applies in the following paragraph and paragraph (6)) may each prepare a plan for payment (hereinafter referred to as a "liquidation-type payment plan") of the portion of the liability reserve equivalent that they are themselves to pay, submit it to the Minister of Health, Labour and Welfare as provided by Order of the Ministry of Health, Labour and Welfare, and receive approval to the effect that the liquidation-type payment plan is appropriate.

②The application for the approval under the preceding paragraph must be filed at the same time by the liquidation-type Fund and the employer of its establishing place of business when applying for the approval under Article 19, paragraph (7) of the Supplementary Provisions.

③The liquidation-type payment plan of a liquidation-type Fund must state the following matters:

④The liquidation-type payment plan of the employer of the establishing place of business of a liquidation-type Fund must state the following matters:

⑤When filing the application for approval under paragraph (1), the sum obtained by adding the amount set forth in paragraph (3), item (i) stated in the liquidation-type payment plan of the liquidation-type Fund and the amount set forth in item (i) of the preceding paragraph stated in the liquidation-type payment plan of the employer of the establishing place of business of the liquidation-type Fund (where the employers of the establishing places of business of the liquidation-type Fund have jointly established that Fund, the total of the amounts set forth in that item stated in the liquidation-type payment plans of the respective employers that have established the liquidation-type Fund) must be the liability reserve equivalent of the liquidation-type Fund.

⑥When an application for approval under paragraph (1) has been filed, the Minister of Health, Labour and Welfare is to grant the approval if the minister finds that the application meets all of the following requirements. In this case, the approval of the liquidation-type payment plans of the liquidation-type Fund and of the employer of its establishing place of business is to be given at the same time:

⑦In granting the approval under the preceding paragraph, the Minister of Health, Labour and Welfare is to certify to that effect if the minister finds that the liquidation-type Fund meets the requirements specified by Cabinet Order as those for having made significant efforts regarding its business operations by the date of the application for the approval and being, on the date of the application for the approval, in a situation in which the continuation of its business is extremely difficult.

⑧When the Minister of Health, Labour and Welfare intends to make the certification under the preceding paragraph, the minister must first consult with the Social Security Council.

⑨In the case where the provisions of Article 10 of the Supplementary Provisions are applied to a liquidation-type Fund that has filed an application for approval under paragraph (1), the phrase "a surviving employees' pension Fund that has received the authorization under Article 32, paragraph (1) of the Supplementary Provisions 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" in paragraph (1) of that Article is deemed to be replaced with "a liquidation-type Fund that has filed an application for approval under Article 21, paragraph (1) of the Supplementary Provisions", the phrase "even before the authorization or approval set forth in each of the following items, prepay all or part of the liability reserve equivalent that the government is to collect under the provisions specified in the relevant item" with "even before the approval under Article 19, paragraph (7) of the Supplementary Provisions, prepay all or part of the liability reserve equivalent that the government is to collect under the provisions of Article 22, paragraph (1) of the Supplementary Provisions", the phrase "liability reserve equivalent" 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 the phrase "liability reserve equivalent" in paragraph (3) of that Article with "amount of reserves for pension benefits, etc.".