If the agreement filed with the chairman under subdivision (b) of section 358-3.4 of this Subpart is the agreement of an employer, or of an association of employers or an association of employees authorized to pay benefits, or a trustee or trustees under a plan paying benefits, the acceptance of the plan shall terminate forthwith on default, after notice, in any payment required to be made to the chairman in accordance with section 213, 214 or 228 of the Workers' Compensation Law.