Document ID: chunk:federal_register_of_legislation:C2004A01320:clause:2_1h
Version: federal_register_of_legislation:C2004A01320
Segment Type: clause
Provision Reference: sch 2 cl 1H
Character Range: 26674–28415

1H  Variation of an election

 (1) The member may vary an election he or she has made by notice in writing signed by the member and given to the administering authority.

 (2) The only variations that are permitted are:
 (a) to change the additional contributions fund to another fund or scheme that is, at the time notice is given:
 (i) a complying superannuation fund that is not a self managed superannuation fund; or
 (ii) an RSA; or
 (b) to change the specified salary sacrifice to another specified percentage or amount that complies with subclause 1E(3); or
 (c) to change the start date to a later date (but only if the start date has not already occurred).

 (3) The notice of variation must specify a date (the variation date) from which the variation is to take effect, being a date that is the first day of the next month following the giving of the notice, or the first day of a later month.

 (4) A notice of variation to change the additional contributions fund to another complying superannuation fund or RSA (the new fund) must:
 (a) specify the name of, and contact details for, the new fund; and
 (b) be accompanied by evidence that the new fund will accept the additional contributions.

 (5) However, evidence referred to in paragraph (4)(b) is not required if:
 (a) the new fund is the default basic contributions fund; or
 (b) the new fund is the chosen basic contributions fund of the member, and the evidence that accompanied the notice choosing that fund indicates that the fund will accept the additional contributions.

 (6) If the notice of variation complies with this clause, it varies the election accordingly (subject to any later variations) in relation to months starting on or after the variation date.