26BBenefits not payable if conversion election made

26B Benefits not payable if conversion election made

26B Benefits not payable if conversion election made

(1) This section applies to a person in respect of whom a conversion election has taken effect under Part 3B of the Police Regulation (Superannuation) Act 1906, section 3 (14) of the Police Association Employees (Superannuation) Act 1969 or Part 3B of the Superannuation Act 1916 and who was, before the election took effect, an employee.

(2) A person to whom this section applies, and anyone else who would otherwise be a beneficiary under this Act through the contributor, is not eligible to be paid, or to defer or preserve, any benefit under this Act, despite any other provision of this Act.

(3) As soon as practicable after being notified that a conversion election has taken effect in respect of a person who was a contributor under the Police Regulation (Superannuation) Act 1906, or a prescribed person within the meaning of section 3 of the Police Association Employees (Superannuation) Act 1969, STC must pay to the Fund under the Police Regulation (Superannuation) Act 1906—

(a) the amount of the benefit payable in respect of the person under section 5H (3) of the Police Regulation (Superannuation) Act 1906, or payable under that provision as applied by the Police Association Employees (Superannuation) Act 1969, and

(b) if section 5H (4) of the Police Regulation (Superannuation) Act 1906 applies to the conversion benefit, an amount equal to the difference between the amount of the conversion benefit payable and the amount that would have been payable if that provision did not apply to the benefit.

(4) As soon as practicable after being notified that a conversion election has taken effect in respect of a person who was a contributor under the Superannuation Act 1916, STC must pay to the reserve of the person’s employer in the Fund under the Superannuation Act 1916—