55Making of elections and applications

55 Making of elections and applications

55 Making of elections and applications

(1) An election or application under this Act—

(a) shall be in writing signed by the person entitled to make the election or application,

(b) subject to subsection (2), is not validly made unless it is received in the office of the Board—

(i) where, by or under this Act (subparagraph (ii) excepted), a day is specifically prescribed for the receipt in the office of the Board of an election or application of that class—not later than that day, or

(ii) in any other case—not later than the expiration of the period of 2 months that next succeeds the vesting of the right to make the election or application,

(c) takes effect—

(i) where, by or under this Act (subparagraph (ii) excepted), a day is specifically prescribed for the taking effect of an election of the same class—on that day, or

(ii) in any other case—on a day determined by the Board, being a day that is not earlier than the date of receipt of the election or application in the office of the Board, and

(d) may, with the approval of the Board, be amended or revoked subject to such conditions as the Board may impose, which may include—

(i) in the case of an amendment of an election—conditions as to the day or days on which, or the manner in which, the election is to take effect, and

(ii) in the case of revocation of an election—the day on which the revocation takes effect.

(2) Where an election or application is not received in the office of the Board within the time prescribed by subsection (1) (b) for the election or application and the Board is satisfied that, in all the circumstances of the case, it is desirable that the election or application should be accepted, the Board may, subject to such terms and conditions as it may impose, accept the election or application and deal with it as if it had been received within the time so prescribed.