Document ID: chunk:federal_register_of_legislation:C2004A00035:body:0:p22
Version: federal_register_of_legislation:C2004A00035
Segment Type: other
Provision Reference: 
Character Range: 50787–53281

him and ended on the date on which he became a member.
"(8) If the life policy or life policies assigned by the person to the Commonwealth in accordance with sub-section (3) becomes or become payable at or before the time when he ceases to be a member, the Commonwealth shall pay to the person, or, if he is dead, to his legal personal

representative, an amount equal to so much of any premiums paid by the person in respect of the policy or policies as related to, or to any part of, the period that commenced on the date on which the transfer value referred to in paragraph (b) of sub-section (1) is deemed for the purposes of this Act to have become payable in respect of him and ended on the date on which he became a member.
"(9) Where—
    (a) the person has attained the age of fifty years and would, if he ceased to be entitled to a parliamentary allowance, be entitled to a pension; or
    (b) the person ceases to be a member and sub-sections (6), (7) and (8) do not apply in relation to him,
then, if the election made by him under sub-section (2) has not been revoked in accordance with sub-section (10), paragraphs (a) and (b) of sub-section (7) have effect in relation to him.

"(10) A person who has made an election under sub-section (2) may, if—
    (a) he has not ceased to be a member; and
    (b) the life policy or life policies assigned by him to the Commonwealth in accordance with sub-section (3) or issued in relation to him in accordance with sub-section (4) has not or have not become payable,
by notice in writing to the Trust revoke the election and, in that case, paragraphs (a) and (b) of sub-section (7) have effect in relation to him.
"(11) The Treasurer may, by instrument under his hand published in the Gazette, declare a superannuation scheme, being a scheme under which benefits are provided for by means of life policies, to be an approved superannuation scheme for the purposes of this section.
"(12) A declaration under sub-section (11) shall come into force on the day on which the instrument of declaration is published in the Gazette or, if an earlier day (not being earlier than 1st January, 1970) is specified in the instrument as the day on which the declaration is deemed to have come into force, shall be deemed to have come into force on that earlier day.
"(13) A superannuation scheme shall be taken, for the purposes of this section, to have been an approved superannuation scheme at a particular time if a declaration by the Treasurer under