(a) Determinative factorsFor purposes of this part, a complete withdrawal from a multiemployer plan occurs when an employer—
permanently ceases all covered operations under the plan.
(b) Building and construction industry
(1) Notwithstanding subsection (a), in the case of an employer that has an obligation to contribute under a plan for work performed in the building and construction industry, a complete withdrawal occurs only as described in paragraph (2), if—
(2) A withdrawal occurs under this paragraph if—
(B) the employer—
continues to perform work in the jurisdiction of the collective bargaining agreement of the type for which contributions were previously required, or
(c) Entertainment industry
Notwithstanding subsection (a), in the case of an employer that has an obligation to contribute under a plan for work performed in the entertainment industry, primarily on a temporary or project-by-project basis, if the plan primarily covers employees in the entertainment industry, a complete withdrawal occurs only as described in subsection (b)(2) applied by substituting “plan” for “collective bargaining agreement” in subparagraph (B)(i) thereof.
(2) For purposes of this subsection, the term “entertainment industry” means—
theater, motion picture (except to the extent provided in regulations prescribed by the corporation), radio, television, sound or visual recording, music, and dance, and
(3) The corporation may by regulation exclude a group or class of employers described in the preceding sentence from the application of this subsection if the corporation determines that such exclusion is necessary—
to prevent a significant risk of loss to the corporation with respect to the plan.
(d) Other determinative factors
(1) Notwithstanding subsection (a), in the case of an employer who—
does not continue to perform work within the jurisdiction of the plan,
a complete withdrawal occurs only as described in paragraph (3).
(3) A withdrawal occurs under this paragraph if—
the corporation determines that the plan has suffered substantial damage to its contribution base as a result of such cessation, or
the employer fails to furnish a bond issued by a corporate surety company that is an acceptable surety for purposes of section 1112 of this title, or an amount held in escrow by a bank or similar financial institution satisfactory to the plan, in an amount equal to 50 percent of the withdrawal liability of the employer.
If, after an employer furnishes a bond or escrow to a plan under paragraph (3)(B)(ii), the corporation determines that the cessation of the employer’s obligation to contribute under the plan (considered together with any cessations by other employers), or cessation of covered operations under the plan, has resulted in substantial damage to the contribution base of the plan, the employer shall be treated as having withdrawn from the plan on the date on which the obligation to contribute or covered operations ceased, and such bond or escrow shall be paid to the plan. The corporation shall not make a determination under this paragraph more than 60 months after the date on which such obligation to contribute or covered operations ceased.
(5) If the corporation determines that the employer has no further liability under the plan either—
because it determines that the contribution base of the plan has not suffered substantial damage as a result of the cessation of the employer’s obligation to contribute or cessation of covered operations (considered together with any cessation of contribution obligation, or of covered operations, with respect to other employers), or
because it may not make a determination under paragraph (4) because of the last sentence thereof,
then the bond shall be cancelled or the escrow refunded.
Nothing in this subsection shall be construed as a limitation on the amount of the withdrawal liability of any employer.
(e) Date of complete withdrawal
For purposes of this part, the date of a complete withdrawal is the date of the cessation of the obligation to contribute or the cessation of covered operations.
(f) Special liability withdrawal rules for industries other than construction and entertainment industries; procedures applicable to amend plans
The corporation may prescribe regulations under which plans in industries other than the construction or entertainment industries may be amended to provide for special withdrawal liability rules similar to the rules described in subsections (b) and (c).
(2) Regulations under paragraph (1) shall permit use of special withdrawal liability rules—
only in industries (or portions thereof) in which, as determined by the corporation, the characteristics that would make use of such rules appropriate are clearly shown, and