11Election to reduce to minimum number of units

11 Election to reduce to minimum number of units

Where, whether before or after the commencement of the Superannuation (Papua and New Guinea) Ordinance 1960, a contributor became or becomes liable to contribute for or in respect of a unit or units of pension such that the total number of units for or in respect of which he was or is liable to contribute is greater than the minimum number of units, he may, within six months after the date on which he became or becomes liable to contribute for the first‑mentioned unit or units, elect to reduce the number of units for or in respect of which he is liable to contribute to a number of units not less than: (a) the minimum number of units; or (b) the number of units for or in respect of which he was contributing immediately before he became liable to contribute for or in respect of the first‑mentioned unit or units; whichever is the greater.