Document ID: chunk:federal_register_of_legislation:C2004A05281:clause:6_32
Version: federal_register_of_legislation:C2004A05281
Segment Type: clause
Provision Reference: sch 6 cl 32
Character Range: 68856–69494

32  After subsection 48A(2)
Insert:
 (2A) The amount of the lump sum payment referred to in subsection (2) is:
 (a) if paragraph (b) does not apply—an amount equal to 1.5 times the member's contributions in respect of the last period of effective service of the member; or
 (b) if:
 (i) the member's surcharge debt account is in debit when the payment becomes payable in respect of the member; and
 (ii) an election has been made under subsection 124(2) in relation to the member's surcharge deduction amount;
an amount equal to the difference between the amount referred to in paragraph (a) and the member's surcharge deduction amount.