Document ID: chunk:federal_register_of_legislation:C2004A01840:section:24:p7
Version: federal_register_of_legislation:C2004A01840
Segment Type: section
Provision Reference: s 24 (pt 7/8)
Character Range: 34544–37044

on which he ceased to be a member, before he became entitled to that amount from being taken into account for the purposes of determining his rights in respect of any further benefit under this Act.

     "(2d) Where a person who has contracted with the Trust under sub-section (1), or has made an election under sub-section (2a) or (2b), to repay an amount to the Commonwealth elects under sub-section (3) of section 18b to convert a percentage of the retiring allowance to which he is entitled into a lump sum payment, there shall be deducted from that lump sum payment so much (if any) of the amount as remains to be paid under the contract or in pursuance of the election and, upon the deduction being made, the person is, to the extent of the amount deducted, discharged from further liability to make repayments under the contract or in pursuance of the election.";
     (b) by inserting in sub-section (3) ", subject to sub-section (3a)," before "thereafter"; and

     (c) by inserting after sub-section (3) the following sub-section:

         "(3a) Where—
         (a) a person who has elected (including a person who has elected on more than one occasion) to convert into lump sum payment a percentage of a retiring allowance to which he was entitled again becomes a member;
         (b) the person subsequently becomes entitled to a retiring allowance; and
         (c) the total of the amounts of the benefits previously received by him under this Act exceeds the total of the amounts of the benefits that he would have received if he had not made the election or elections,
     the annual amount of the retiring allowance to which he becomes entitled as mentioned in paragraph (b) shall be reduced by 10 per centum of the excess.".

Period of service as member of a State Parliament to be taken into account in certain circumstances
16. Section 20a of the Principal Act is amended by adding at the end thereof the following sub-section:
"(3) Where a person who has contracted with the Trust under sub-section (1) of this section to pay an amount to the Commonwealth elects under sub-section (3) of section 18b to convert a percentage of the retiring allowance to which he is entitled into a lump sum payment, there shall be deducted from that lump sum payment so much of the amount as remains to be paid under the contract and, upon the deduction being made, the person is, to the extent of the amount deducted, discharged from further liability to make payments under the contract.".