Document ID: chunk:federal_register_of_legislation:F2011C00507:reg:136:p4
Version: federal_register_of_legislation:F2011C00507
Segment Type: reg
Provision Reference: reg 136 (pt 4/18)
Character Range: 24789–27690

benefit be paid in accordance with subsection 200 (2).
                 '(2) A person who makes an election under section 68 is not entitled to make an election under subsection (1) of this section.
                   '199 (1) Subject to section 212, a person:
                    (a) who ceases, or is about to cease, to be a prescribed eligible employee by reason of retirement on the ground of invalidity before attaining his maximum retiring age; and
                    (b) who becomes entitled to invalidity pension by virtue of subsection 66 (2); and
                    (c) in the case of a person who is, or who has been, an approved part-time employee — whose period of employment within the meaning of the Superannuation (Approved Part-time Employees) Regulations is not less than 15 years; and
                    (d) in the case of any other person — whose period of contributory service is not less than 15 years;
                 may, not later than 3 months after becoming, but not earlier than 3 months before he or she becomes, so entitled, elect, by notice in writing to the Commissioner, that in lieu of benefit being payable in accordance with section 70, a lump sum benefit be paid in accordance with subsection 200 (1) and, where the person has paid supplementary contributions, an additional lump sum benefit be paid in accordance with subsection 200 (2).
                 '(2) A person who makes an election under section 71 is not entitled to make an election under subsection (1) of this section.
                 '200 (1) Where a person makes an election under section 198 or 199, the lump sum benefit to which the person is entitled in accordance with this subsection is:
                    (a) except where paragraph (b) applies — an amount equal to whichever is the greatest of:
                        (i) 3 times the person's accumulated basic contributions; or

                        (ii) in the case of a person who is, or has been, an approved part-time employee — the adjusted final salary amount, calculated in accordance with subsection 196 (2); or
                        (iii) in any other case — one half of the amount per annum of the person's final annual rate of salary; or
                    (b) if the person was a contributor to the Provident Account established by the superseded Act on more than 1 occasion and at any time before last becoming such a contributor had been paid a sum under subsection 82 (2) of the superseded Act — an amount equal to 3 times the person's accumulated basic contributions.
                 '(2) Where a person makes an election under section 198 or 199 and the person has paid supplementary contributions, the additional lump sum benefit to which the person is entitled in accordance with this subsection is an amount equal to the person's accumulated supplementary contributions.
                   '201 (1) Subject