21Effect of an election

21 Effect of an election

(1) If the person makes an election in accordance with sections 17, 18 and 19, then this section has effect in relation to each fortnight during the period when the election is in force. (2) Subject to subsections (3) and (5), the amount (the basic amount) of base salary that would otherwise be payable to the person for a fortnight, worked out under regulations made for the purposes of subsection 52A(2), is reduced (but not below zero) by whichever of the following amounts (the reduction amount) is applicable: (a) if the specified salary sacrifice is a percentage—the amount that is that percentage of the basic amount; (b) if the specified salary sacrifice is an amount—that amount. (3) If the reduction amount for a fortnight is greater than the amount (the maximum reduction) that is 50% of the sum of: (a) the basic amount; and (b) the amount (if any) of Ministerial salary that is payable to the person for the fortnight; and (c) the amount (if any) of office holder’s salary that is payable to the person for the fortnight; the basic amount for the fortnight is instead reduced by the maximum reduction. (4) Subject to subsection (5), the Commonwealth must, in respect of each fortnight, make a contribution to the additional contributions fund, in respect of the person, of an amount equal to the amount by which the basic amount for the fortnight is reduced under subsection (2) or (3). (5) If either: (a) the additional contributions fund: (i) ceases to exist; or (ii) ceases to accept the additional contributions; or (iii) ceases to be a complying superannuation fund or an RSA; or (b) the person dies; before the Commonwealth makes a contribution as required by subsection (4) in respect of a fortnight, then: (c) no reduction under subsection (2) or (3) is to be made in respect of that fortnight; and (d) no contribution under subsection (4) is to be made in respect of that fortnight.