Document ID: chunk:federal_register_of_legislation:C2013C00026:clause:3_62d
Version: federal_register_of_legislation:C2013C00026
Segment Type: clause
Provision Reference: sch 3 cl 62D
Character Range: 157198–158984

62D  Electing for quarterly payment of clean energy supplement for pension under Part II or IV

Election

 (1) A person may, in a manner or way approved by the Commission, make an election to be paid quarterly instalments of:
 (a) the person's clean energy supplement under section 62A; or
 (b) the person's clean energy supplement under section 62B.

Note 1: If the person is receiving both kinds of pension under Part II or IV, he or she may make an election relating to one kind but not the other or make separate elections for each kind.

Note 2: If a person does not make an election to be paid quarterly instalments of the clean energy supplement for one of those kinds of pensions, the supplement for that kind of pension will be paid in instalments under section 121.

 (2) The election:
 (a) comes into force as soon as practicable after it is made; and
 (b) ceases to be in force if the pension ceases to be payable to the person; and
 (c) may be revoked by the person, in a manner or way approved by the Commission, with effect as soon as practicable after the revocation is made.

Quarterly payment

 (3) If the election is in force on a day in the 3 months starting on 20 March, 20 June, 20 September or 20 December, an instalment of the clean energy supplement is to be paid to the person on, or as soon as reasonably practicable after, the day after the end of that period.

 (4) The amount of the instalment is the total amount of the clean energy supplement payable to the person for the days in that period on which the election was in force. For this purpose, the rate of the clean energy supplement payable for a day is 1/14 of the fortnightly rate of the supplement that applied on that day.

Subdivision B—Quarterly clean energy supplement for service pension