Document ID: chunk:federal_register_of_legislation:C2024C00651:section:22r:p2
Version: federal_register_of_legislation:C2024C00651
Segment Type: section
Provision Reference: s 22R (pt 2/4)
Character Range: 181620–184189

(b) after the person became a member his or her parliamentary allowance is increased;
the Trust, on behalf of the Commonwealth, shall, so far as is practicable, arrange for the amount or amounts of any life policy or life policies assigned to the Commonwealth by the person to be increased by the amount or amounts by which the life policy or life policies would have been increased under that scheme, or for the issue of such additional life policy or life policies in relation to the person as would have been issued under that scheme, if he or she had remained a participant in the scheme and had been in receipt of an annual remuneration equal to the amount per annum of that parliamentary allowance or that increased parliamentary allowance, as the case may be.
 (5) So much of any premium payable in respect of any life policy assigned to the Commonwealth in accordance with subsection (3) or issued in accordance with subsection (4) as relates to a period during which the person is a member shall be paid by the Commonwealth.
 (6) Where the person ceases to be a member and is not entitled to a retiring allowance and, within 3 months after so ceasing, becomes employed in employment in respect of which a superannuation scheme referred to in paragraph (1)(a) is applicable and becomes a participant in that scheme, he or she may elect within that period that this subsection shall have effect in relation to him or her and, if he or she so elects:
 (a) any benefit that, but for this subsection, would be payable to him or her is not payable;
 (b) the Commonwealth shall assign to the person administering that superannuation scheme the life policy or life policies assigned by the first‑mentioned person to the Commonwealth in accordance with subsection (3) or issued in relation to him or her in accordance with subsection (4); and
 (c) the Commonwealth shall pay to the first‑mentioned person the amount by which the amount of the benefit that, but for this section, would be payable to him or her exceeds the sum of the amounts of the annual premiums paid by the Commonwealth under the life policy or life policies assigned by him or her to the Commonwealth in accordance with subsection (3) or issued in relation to him or her in accordance with subsection (4).
 (7) Where the person is entitled to make an election under subsection (6) but does not make the election:
 (a) the Commonwealth shall surrender the life policy or life policies assigned by him or her to the Commonwealth in accordance with subsection (3) or issued in relation to him or her in