Document ID: chunk:federal_register_of_legislation:C2024A00081:clause:1_56
Version: federal_register_of_legislation:C2024A00081
Segment Type: clause
Provision Reference: sch 1 cl 56
Character Range: 71920–72664

56  Subsection 37(3)
Repeal the subsection, substitute:
 (3) A participant's plan ceases to be in effect at the earliest of the following times:
 (a) when the plan is replaced by another plan (see subsection (4));
 (b) if the plan is a new framework plan—immediately after the end of the maximum period of effect specified in the plan under paragraph 32D(2)(d);
 (c) in any case—when the participant ceases to be a participant.
Note: A new framework plan may be varied to change the period mentioned in paragraph (b) (see paragraph 47A(1AA)(d)).
 (4) For the purposes of paragraph (3)(a), if a plan (the replacement plan) comes into effect for a participant while another plan is in effect, the other plan is replaced by the replacement plan.