Document ID: chunk:federal_register_of_legislation:C2015C00151:clause:2_7
Version: federal_register_of_legislation:C2015C00151
Segment Type: clause
Provision Reference: sch 2 cl 7
Character Range: 39521–40564

7  Elections made before commencement
(1) This item applies if:
 (a) before the commencement of this item, a MySuper member of a regulated superannuation fund elected either or both of the following:
 (i) that a benefit of a kind referred to in paragraph 68AA(1)(a) of the new Act will not be provided to the member by the fund;
 (ii) that a benefit referred to in paragraph 68AA(1)(b) of the new Act will not be provided in respect of the member by the fund; and
 (b) as at the commencement of this item, the election is in force.
(2) Subsection 68AA(8) of the new Act applies in relation to the MySuper member as if the election were an election made by the member, immediately after the commencement of this item, in accordance with subsection 68AA(5) in relation to the benefit or benefits (as the case may be).
(3) Subsection 68AA(6) of the new Act does not apply in relation to the election.
(4) In this item:
new Act means the Superannuation Industry (Supervision) Act 1993 as in force immediately after the commencement of this item.