Document ID: chunk:federal_register_of_legislation:C2024C00825:section:31
Version: federal_register_of_legislation:C2024C00825
Segment Type: section
Provision Reference: s 31
Character Range: 114016–116106

31  Transfer of contributions to Superannuation Fund
 (1) Where a contributor who is contributing for one or more reserve units of pension becomes eligible or required to contribute for one or more additional units of pension in pursuance of the provisions of this Act, he may elect to transfer to the Fund the contributions paid by him to the Account in respect of a number of reserve units of pension not exceeding the number of those additional units of pension.
 (2) Where a contributor so elects, no further contributions shall be paid into the Account in respect of the reserve units of pension to which the election applies and the contributions payable by the contributor in respect of so many of the additional units of pension as is equal to the number of those reserve units of pension shall be at the same rate as the contributions paid into the Account in respect of those reserve units of pension.
 (3) An election by a contributor under this section does not have any effect in relation to a reserve unit of pension where:
 (a) at the time when the election is made, a non‑contributory unit of pension is applicable in relation to the contributor; and
 (b) if the election had been made before the date as from which the non‑contributory unit became applicable in relation to the contributor, the non‑contributory unit would not have become so applicable by reason of the operation of subsection (2) of section 22A, subsection (3) or subsection (4) of section 22B, or subsection (3) of section 22C of this Act or subsection (7) of section 31 of the Superannuation Act (No. 2) 1969.
 (4) Where the rate of the contributions payable for a unit of pension is, by reason of an election under this section, the same as the rate of the contributions paid into the Account in respect of a reserve unit of pension, the contributions so paid into the Account in respect of that reserve unit of pension shall be deemed to be contributions paid in respect of the first‑mentioned unit of pension.
 (5) A person is not entitled to make an election under this section after 30 June 1976.