14When lump sum benefit is payable

14 When lump sum benefit is payable

14 When lump sum benefit is payable

(1) A lump sum benefit calculated in accordance with section 13 is payable to or in respect of a judge or acting judge qualified under section 15:

(a) if the judge or acting judge dies, or

(b) if the judge or acting judge ceases to be employed as a judge or acting judge in the circumstances in which a benefit is payable for the purposes of complying with a relevant Commonwealth superannuation standard, or

(c) in any other circumstances in which a benefit is payable to comply with any such standard or may be paid in respect of a member of a regulated superannuation fund under any such standard,

and is so payable in accordance with subsections (4) and (5).

(2) If the whole or part of a lump sum benefit payable to a former judge or former acting judge would be required to be preserved if a relevant Commonwealth superannuation standard applied to the benefit, that amount must, on the election of the former judge or former acting judge, be paid to:

(a) a regulated superannuation fund, or

(b) an approved deposit fund, or

(c) an RSA institution.

(3) If the former judge or former acting judge does not make an election referred to in subsection (2), the amount is to be paid on behalf of the former judge or former acting judge to a regulated superannuation fund or approved deposit fund approved by the Attorney General.

(4) The lump sum benefit in respect of a former judge or former acting judge is payable:

(a) unless the former judge or former acting judge has died—to the former judge or former acting judge, or

(b) if the former judge or former acting judge has died and is survived by a surviving spouse—to the surviving spouse, or

(c) if the former judge or former acting judge has died and is not survived by a surviving spouse—to the legal personal representatives of the former judge or former acting judge for payment in respect of any eligible children of the former judge or former acting judge, or

(d) if the former judge or former acting judge has died and is not survived by a surviving spouse or any eligible children—to the legal personal representatives of the former judge or former acting judge.