Document ID: chunk:federal_register_of_legislation:C2013A00082:clause:4_146rc
Version: federal_register_of_legislation:C2013A00082
Segment Type: clause
Provision Reference: sch 4 cl 146RC
Character Range: 86577–87384

146RC  Election specifying which benefit is to be reduced
 (1) A person who gives CSC a release authority in accordance with Division 135 in Schedule 1 to the Taxation Administration Act 1953 may make an election specifying which of the following is to be reduced to reflect the release authority lump sum:
 (a) a lump sum benefit to which the person is (or is about to become) entitled under this Act (unless the lump sum benefit has already been paid);
 (b) a pension to which the person is (or is about to become) entitled under this Act (whether or not the pension has started to be paid).
 (2) However, a person cannot specify that 2 or more benefits are to be reduced to reflect a release authority lump sum, unless the person elects to reduce all, or all but one, of the specified benefits to zero.