119JRights of contributors who elect to pay transfer value to Board

#### 119J Rights of contributors who elect to pay transfer value to Board (1) If: (a) a transfer value or transfer values became payable to or in respect of the person in accordance with paragraph (a) of subsection (1) of section 119H; (b) the person elected before the date on which he became an employee, or elects not later than three months after that date, to pay to the Board an amount equal to the amount of that transfer value or, if two or more transfer values became payable, to the sum of the amounts of those transfer values; and (c) that amount has, before the expiration of that period of three months, been paid to the Board; the succeeding provisions of this section have effect. (2) The Board may, if it is satisfied that there are special circumstances that justify it in so doing, extend the period for the making of an election and the payment of an amount to the Board under subsection (1). (3) Where the person is a contributor to the Fund: (a) so much of the amount paid to the Board as is equal to the employee component of the transfer value, or to the sum of the employee components of the transfer values, as the case may be, shall be paid by the Board to the Fund and, when so paid: (i) shall be deemed, for the purposes of this Act other than section 51 to be contributions made to the Fund by the person; and (ii) shall, to the extent to which it was payable to the person upon the termination of the employment in respect of which the transfer value or any of the transfer values become payable irrespective of whether he engaged in further employment, be deemed, for the purposes of section 51, to be contributions made to the Fund by the person; (b) the person shall be deemed, for the purposes of this Act, to have completed payment of contributions to the Fund for such number of units of pension (including, where necessary, a fraction of a unit of pension) as the Board determines to have been equivalent, as at the date on which the person became an employee, to the amount of the transfer value or the total of the amounts of the transfer values; (c) if at any time the number of units of pension for which the person would, but for this Division, be required to contribute to the Fund does not exceed the sum of: (i) the number of units of pension for which he is to be deemed by paragraph (b) to have completed payment of contributions; (ii) such number of units of pension (including, where necessary, a fraction of a unit of pension) as the Board determines to have been equivalent, as at the date on which the person became an employee, to the total of the amounts of any transfer values referred to in paragraph (b) of subsection (1) of section 119H that would have become payable to or in respect of him; (iii) such number of units of pension (including, where necessary, a fraction of a unit of pension) as the Board determines to have been equivalent, as at the date on which the person became an employee, to any pensions referred to in paragraphs (c) and (d) of that subsection that are, or would have become, payable to him; (iv) such number of units of pension (including, where necessary, a fraction of a unit of pension) as the Board determines to have been equivalent, as at the date on which the person became an employee, to any deferred benefits referred to in paragraphs (e) and (f) of that subsection that are, or would have become, applicable in respect of him; and (v) in the case of a person who becomes a contributor after the commencement of this section and was, immediately before becoming an employee, a contributor to a Public Service Superannuation Fund within the meaning of Part VIII, other than a person to whom that Part does not apply by reason of the operation of subsection (1) of section 110C—the number of units of pension determined by the Board in relation to him under subsection (3) of section 109 or, if that section does not apply in relation to him, the number of units of pension that would have been determined by the Board in relation to him under subsection (2) of section 110 if that last‑mentioned section were applicable in relation to him; the person shall not be required or permitted to contribute to the Fund at that time in respect of units of pension; (d) if at any time the number of units of pension for which the person would, but for this Division, be required to contribute to the Fund exceeds the sum referred to in paragraph (c), the person shall not be required or permitted to contribute to the Fund at that time in respect of a number of units of pension greater than the excess; and (e) nothing in this Act shall be taken to require or permit a reduction in the number of units of pension for which the person is a contributor to a number that is less than the number of units of pension for which he is to be deemed by paragraph (b) to have completed payment of contributions. (4) A determination made for the purposes of paragraph (b) or paragraph (c) of subsection (3) in relation to a person who has not made an election under section 24 may specify different numbers of units of pension as having been equivalent to the amount of a transfer value, or the total of the amounts of any transfer values, or as having been equivalent to any pension or deferred benefits, according to whether or not the person makes such an election after the determination is made. (5) Where: (a) a transfer value became payable to or in respect of a person in accordance with paragraph (a) of subsection (1) of section 119H; and (b) a transfer value of a greater amount would have become so payable but for the doing of, or the failure to do, any act or thing referred to in paragraph (b) of that subsection; the amount of the last‑mentioned transfer value shall be taken into account for the purposes of subparagraph (ii) of paragraph (c) of subsection (3) of this section only to the extent to which it was greater than the amount of the first‑mentioned transfer value. (6) Where: (a) a transfer value became payable to or in respect of a person in accordance with paragraph (a) of subsection (1) of section 119H; and (b) a transfer value of a smaller amount would have become so payable but for the doing of, or the failure to do, any act or thing referred to in paragraph (b) of that subsection; the amount of the last‑mentioned transfer value shall not be taken into account for the purposes of subparagraph (ii) of paragraph (c) of subsection (3) of this section. (7) Where the person is a contributor to the Provident Account: (a) so much of the amount paid to the Board as is equal to the employee component of the transfer value, or to the sum of the employee components of the transfer values, as the case may be, shall be paid by the Board into the Provident Account; (b) the amount so paid into the Provident Account shall, to the extent to which it was payable to the person upon the termination of the employment in respect of which the transfer value or any of the transfer values became payable irrespective of whether he engaged in further employment, be deemed, for the purposes of sections 84 and 85, to be contributions made to the Provident Account by the person; (c) subject to paragraph (d), one‑third of the amount paid to the Board shall be deemed, for the purposes of subsection (1) of section 82 and subsection (1) of section 83 to be contributions made to the Provident Account by the person; (d) in calculating the sum payable under subsection (1) of section 82 or subsection (1) of section 83 for the purpose of ascertaining whether subsection (2) of section 82 or subsection (2) of section 83 applies in relation to the person or in relation to the widow or widower or the children of the person, as the case may be, paragraph (c) of this subsection shall be disregarded; and (e) if subsection (2) of section 82 or subsection (2) of section 83 applies in relation to the person or in relation to the widow or widower or the children of the person, as the case may be: (i) there shall be paid out of the Provident Account to the person, or to the widow, widower or children, in addition to the amount payable under that subsection, an amount equal to the amount paid to the Board together with compound interest on that amount, in respect of the period that commenced on the date on which the person became a contributor to the Provident Account and ended on the date on which he ceased to be such a contributor, at the rate or rates applicable under subsection (3) of section 90; and (ii) the Commonwealth shall pay to the Provident Account an amount equal to so much of the amount paid under subparagraph (i) as bears to that amount the same proportion as the employer component of the transfer value or the sum of the employer components of the transfer values bears to the transfer value or to the sum of the transfer values, as the case may be. (8) The Board shall pay to the Commonwealth so much of the amount paid to the Board as is equal to the employer component of the transfer value or to the sum of the employer components of the transfer values, as the case may be. (9) If: (a) under the superannuation scheme applicable in relation to any previous employment of the person, the whole or any part of the employer component of a transfer value was payable to the person upon the termination of that employment irrespective of whether he engaged in further employment; and (b) the person ceases to be a contributor to the Fund or to the Provident Account and: (i) in the case of a person who was a contributor to the Fund—a refund of the contributions paid by him to the Fund is payable to or in respect of him; or (ii) in the case of a person who was a contributor to the Provident Account—an amount equal to the contributions paid by him to the Provident Account together with compound interest on the amount of those contributions is payable to or in respect of him; so much of the amount paid to the Commonwealth under subsection (8) as is equal to the employer component of the transfer value or to that part of that employer component, as the case may be, together with, in the case of a person who was a contributor to the Provident Account, compound interest, in respect of the period that commenced on the date on which the person became a contributor to the Provident Account and ended on the date on which he ceased to be such a contributor, at the rate or rates applicable under subsection (3) of section 90, is payable to or in respect of him out of the Fund or the Provident Account, as the case may be. (10) Where an amount is payable out of the Fund or the Provident Account under subsection (9), the Commonwealth shall pay an amount equal to that amount to the Fund or to the Provident Account, as the case may be. (11) For the purposes of this section: (a) the employee component of a transfer value payable to or in respect of a person is the part (if any) of that transfer value that was based upon contributions made by the person; and (b) the employer component of a transfer value payable to or in respect of a person is the part of that transfer value that was based upon contributions by an employer or employers of the person.