Document ID: chunk:federal_register_of_legislation:C2024C00465:section:84:p3
Version: federal_register_of_legislation:C2024C00465
Segment Type: section
Provision Reference: s 84 (pt 3/5)
Character Range: 209056–211501

if the amount of any fortnightly contribution paid by the former contributor under this Act to the Commonwealth exceeded the amount that was the prescribed amount in relation to him at the time of the payment, pay to him an amount equal to the amount of the excess.
 (8) If the life policy or life policies assigned by the person to the Commonwealth in accordance with subsection (3) or issued in relation to him in accordance with subsection (4) becomes or become payable at or before the time when he ceases to be an eligible member of the Defence Force, the Commonwealth shall pay to the person or, if he is dead, to his personal representatives:
 (a) an amount equal to so much of any premiums paid by the person in respect of the policy or policies as related to, or to any part of, the period that commenced on the date on which the transfer value referred to in paragraph (1)(b) is to be deemed for the purposes of Division 2 to have become payable in respect of him and ended on the date on which he became a contributing member; and
 (b) an amount equal to the sum of any amounts paid by the person to the Commonwealth under subsection (6).
 (9) Where the person ceases to be a contributing member and neither subsection (7) or subsection (8) applies in relation to him, then, if the election made by him under subsection (2) has not been revoked in accordance with subsection (10):
 (a) CSC on behalf of the Commonwealth shall arrange for the surrender of the life policy or life policies assigned by him to the Commonwealth in accordance with subsection (3) or issued in relation to him in accordance with subsection (4); and
 (b) the Commonwealth shall pay to the person:
 (i) in the case of a policy or policies assigned by the person to the Commonwealth in accordance with subsection (3) an amount equal to so much of any premiums paid by the person in respect of the policy or policies as related to, or to any part of, the period that commenced on the date on which the transfer value referred to in paragraph (1)(b) is to be deemed for the purposes of Division 2 to have become payable in respect of him and ended on the date on which he became a contributing member; and
 (ii) an amount equal to the sum of any amounts paid by him to the Commonwealth under subsection (6).
 (10) A person who has made an election under subsection (2) may, if:
 (a) he has not ceased to be a contributing member; and
 (b) the life policy or life