Document ID: chunk:federal_register_of_legislation:C2022C00264:clause:11_139
Version: federal_register_of_legislation:C2022C00264
Segment Type: clause
Provision Reference: sch 11 cl 139
Character Range: 568078–569354

139  Circumstances in which person entitled to transfer value
 (1) Subject to this Division, if:
 (a) a person makes an election under section 137; and
 (b) the person becomes employed in public employment; and
 (c) the person becomes a member of an eligible superannuation scheme that is applicable in relation to people employed in that employment;
the person may, by written notice given to CSC, within 3 months after the person became a member of that scheme, elect that, in lieu of deferred benefits, a transfer value in respect of the person be paid to the person administering the scheme.
 (2) An election under subsection (1) does not have any effect unless:
 (a) the person administering the eligible superannuation scheme agrees to accept the transfer value; and
 (b) under the rules of the scheme, the first‑mentioned person will become entitled to retirement benefits under the scheme based upon the transfer value.
 (3) If an election is duly made under subsection (1):
 (a) a transfer value in respect of the person is payable to the person administering the eligible superannuation scheme; and
 (b) deferred benefits cease to be applicable in respect of the person on the day on which the person administering the scheme accepts payment of the transfer value.