Document ID: chunk:federal_register_of_legislation:C2019C00214:clause:2_5
Version: federal_register_of_legislation:C2019C00214
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 36339–37159

5  Subsection 48(5)
Repeal the subsection, substitute:
 (5) In this section, a reference to the amount of retirement pay or invalidity pay paid or payable to a member of the scheme before the member's death shall be read as including the following:
 (a) if an election has been made, by or on behalf of the member, under section 24 or 32A, to commute a portion of the retirement pay or invalidity pay, as the case may be, payable to the member—the amount paid or payable to or in respect of the member under paragraph 24(3)(a) or 32A(5)(a), as the case may be, by virtue of that election;
 (b) if the member's retirement pay or invalidity pay is reduced under section 49N to reflect a release authority lump sum paid in relation to a release authority issued to the member—the amount of the release authority lump sum.