An existing plan shall be deemed continued and may be accepted as the plan of an employer who, after April 13, 1949, has acquired all or substantially all. or an identifiable portion, of the assets or employment, and assumed liabilities, including liabilities under the plan, of an employer who immediately preceding such acquisition had an acceptable existing plan.
N.Y. Comp. Codes R. & Regs. Tit. 12 §§ 358-1.3