Document ID: chunk:federal_register_of_legislation:C2004A03392:body:0:p52
Version: federal_register_of_legislation:C2004A03392
Segment Type: other
Provision Reference: 
Character Range: 128682–131523

to whom deferred benefits are applicable and who is or becomes a member of an eligible superannuation scheme makes an election under sub-section (1) for the payment of a transfer value in respect of the person in lieu of those deferred benefits, a transfer value in respect of the person is payable to the person administering that scheme.
"(3) Where a transfer value in respect of a person in lieu of deferred benefits applicable in relation to that person is paid under sub-section (2), those deferred benefits cease to be applicable in relation to that person.
"(4) Notwithstanding sub-section (2), a transfer value is not payable under that sub-section in respect of a person in lieu of deferred benefits that are applicable in relation to that person if at any time after those deferred benefits first became so applicable they have been payable to the person.
"(5) Notwithstanding sub-section (2), a transfer value in respect of a person is not payable under that sub-section to the person administering an eligible superannuation scheme unless the person administering the superannuation scheme agrees to accept the transfer value and, under the rules of that scheme, the first-mentioned person will become entitled to retirement benefits under the scheme based upon the transfer value.

"(6) Nothing in this section shall be taken, by implication, to preclude a person to whom different deferred benefits are applicable by reason of the person's having made more than one election under section 119u from making more than one election under sub-section (1).".

Certain former contributors not entitled to benefits under Division
88. Section 119y of the Principal Act is amended—
     (a) by omitting from paragraph (1) (b) "age of sixty years" and substituting "persons relevant retiring age"; and
     (b) by adding at the end the following sub-section:
"(3) In this section, 'relevant retiring age' has the same meaning as it has in section 119w.".

Invalid pensioner restored to health
89. Section 119za of the Principal Act is amended—
     (a) by omitting paragraph (1) (a) and substituting the following paragraphs:
         "(a) if the pension is suspended under section 119wa—deferred benefits are not applicable in relation to the person during the period of the suspension of the pension;
         (aa) if the person's entitlement to the pension is cancelled under section 119wb—deferred benefits again become applicable in relation to the person; and"; and
     (b) by omitting from paragraph (1) (b) "section 65 does not apply in relation to the person but".

Interpretation
90. Section 120 of the Principal Act is amended by omitting from sub-section (2) "6 State" and substituting "8".

Increases in pensions
91. Section 121 of the Principal Act is amended—
     (a) by omitting from sub-section (1) "6 State" (wherever