31. A registered plan shall contractually provide that a member who, upon termination of his employment or of his membership in the plan, has attained the age of 45 years but has not attained normal retirement age, shall not withdraw the contributions he has made since the qualification date but shall receive a deferred annuity:
(a) if he has completed a continuous period of ten years in the service of the employer, or
(b) if he has been a member of the plan for ten years.
Every plan registered before 9 December 1975 is deemed to contain the provision mentioned in the preceding paragraph.
1965 (1st sess.), c. 25, s. 33; 1975, c. 18, s. 10.