Document ID: chunk:federal_register_of_legislation:C2004A03392:body:0:p30
Version: federal_register_of_legislation:C2004A03392
Segment Type: other
Provision Reference: 
Character Range: 74145–76813

the Northern Territory)".

Election that Division apply
57. (1) Section 137 of the Principal Act is amended by omitting sub-section (1) and substituting the following sub-section:
"(1) A person who—
     (a) ceases to be an eligible employee in circumstances to which paragraph (b) does not apply and, upon so ceasing, is not entitled to pension under this Act or invalidity benefit in accordance with section 69, 72 or 73; or
     (b) ceases to be an eligible employee in circumstances by virtue of which the person is to be deemed, under sub-section 58 (3), to have retired involuntarily,
may, not later than 21 days after the person so ceases to be an eligible employee, elect, by notice in writing to the Commissioner, that this Division apply in relation to the person.".
(2) An election made under sub-section 137 (1) of the Principal Act has effect, on and after the day on which this Act receives the Royal Assent, as if it had been made under sub-section 137 (1) of the Principal Act as amended by this Act.

Circumstances in which person entitled to deferred benefits
58. Section 139 of the Principal Act is amended by omitting from sub-sections (2), (3) and (6) "of 60 years" (wherever occurring) and substituting "that would have been the person's minimum retiring age for the purposes of this Act if the person had not ceased to be an eligible employee and had continued to occupy the position held by the person immediately before so ceasing.".

59. After section 139 of the Principal Act the following section is inserted:

Election for transfer value by persons in relation to whom deferred benefits are applicable
"139a. (1) Where a person in relation to whom deferred benefits are applicable under sub-section 139 (1)—
     (a) is or becomes employed in public employment; and
     (b) is or becomes a member of an eligible superannuation scheme that is applicable to persons employed in that employment,
the person may elect, by notice in writing given to the Commissioner, that, in lieu of those deferred benefits, a transfer value in respect of the person be paid to the person administering that scheme.
"(2) Where a person to whom deferred benefits are applicable and who is or becomes a member of an eligible superannuation scheme makes an election under sub-section (1) for the payment of a transfer value in respect of the person in lieu of those deferred benefits, a transfer value in respect of the person is payable to the person administering that scheme.
"(3) Where a transfer value in respect of a person in lieu of deferred benefits applicable in relation to that person is paid under sub-section (2), those deferred benefits cease to