Document ID: chunk:federal_register_of_legislation:C2022C00288:section:82r:p1
Version: federal_register_of_legislation:C2022C00288
Segment Type: section
Provision Reference: s 82R (pt 1/3)
Character Range: 134670–137108

82R  Rights of members who elect to pay transfer value to Board
 (1) If:
 (a) a transfer value or transfer values became payable to or in respect of the member in accordance with paragraph 82Q(1)(a);
 (b) the member elected not later than 3 months after the date on which he became a contributor to pay to the Board an amount equal to the amount of that transfer value or, if 2 or more transfer values became payable, to the sum of the amounts of those transfer values; and
 (c) that amount has, before the expiration of that period of 3 months, been paid to the Board;
the succeeding provisions of this section have effect.
 (2) The Board may, if it is satisfied that there are special circumstances that justify it in so doing, extend the period for the making of an election and the payment of an amount to the Board under subsection (1).
 (3) So much of the amount paid to the Board as is equal to the employee component of the transfer value, or to the sum of the employee components of the transfer values, as the case may be, shall be paid by the Board to the Fund and, when so paid, shall, to the extent to which it was payable to the member upon the termination of the employment in respect of which the transfer value or any of the transfer values became payable irrespective of whether he engaged in further employment, be deemed, for the purposes of this Act, to be contributions made to the Fund by the member.
 (4) The Board shall pay to the Commonwealth so much of the amount paid to the Board as is equal to the employer component of the transfer value or to the sum of the employer components of the transfer values, as the case may be.
 (5) For the purposes of the application of section 30 in relation to the member, a reference in that section to the date as from which he was required to contribute to the Fund shall be taken to be a reference to the date that is earlier than the actual date from which he was so required to contribute by such period as is determined by the Board.
 (6) In furnishing advice to the Board in relation to the determination by the Board, for the purposes of subsection (5), of a period in relation to the member, the Commonwealth Actuary shall have regard to actuarial principles and practice and shall take into account all relevant matters, including:
 (a) the date on which the member became a contributor;
 (b) the amount paid to the Board;
 (c) the amounts respectively paid to the