sec.10Expiry

### sec.10 Expiry A distributor-retailer expires at the end of 99 years after its establishment. When a distributor-retailer expires— its assets and liabilities become the assets and liabilities of its participants; and the participants become the successor in law of the assets and liabilities rateably in accordance with their participation rights under the distributor-retailer’s participation agreement. A regulation may provide for any matter necessary or convenient to give effect to this section, including, for example, a provision about all or any of the following when a distributor-retailer expires (the former entity )— the process concerning the distribution of its assets and liabilities; the transfer of the employment of the former entity’s employees and of their rights; the application of instruments relating to the former entity; the former entity’s records; the performance of the former entity’s functions immediately before the expiry. (sec.10-ssec.1) A distributor-retailer expires at the end of 99 years after its establishment. (sec.10-ssec.2) When a distributor-retailer expires— its assets and liabilities become the assets and liabilities of its participants; and the participants become the successor in law of the assets and liabilities rateably in accordance with their participation rights under the distributor-retailer’s participation agreement. (sec.10-ssec.3) A regulation may provide for any matter necessary or convenient to give effect to this section, including, for example, a provision about all or any of the following when a distributor-retailer expires (the former entity )— the process concerning the distribution of its assets and liabilities; the transfer of the employment of the former entity’s employees and of their rights; the application of instruments relating to the former entity; the former entity’s records; the performance of the former entity’s functions immediately before the expiry. - (a) its assets and liabilities become the assets and liabilities of its participants; and - (b) the participants become the successor in law of the assets and liabilities rateably in accordance with their participation rights under the distributor-retailer’s participation agreement. - (a) the process concerning the distribution of its assets and liabilities; - (b) the transfer of the employment of the former entity’s employees and of their rights; - (c) the application of instruments relating to the former entity; - (d) the former entity’s records; - (e) the performance of the former entity’s functions immediately before the expiry.