Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A contributor may
elect to cease contributing for units of pension under this Act.
(2) An election may be
made under subsection (1) if, and only if, it is made in respect of all
of the units for which the contributor was contributing at the time of the
election.
(3) Where a
contributor makes an election under subsection (1) —
(a) the
contributor is entitled —
(i)
to have refunded to him the amounts of contributions made
by him under this Act in respect of the units for which he was contributing at
the time of the election together with compound interest thereon at the rate
per centum per annum fixed by the Board from time to time; and
(ii)
to have paid to him any amount that is held in the Fund
to his credit under this Act;
and
(b) the
contributor shall no longer be subject to or bound by the provisions of this
Act.
[(4) deleted]
(5) This section does
not affect the operation of the provisions of section 38(2) enabling a
contributor to reduce the number of units of pension for which he is
contributing.
(6) Without limiting
the operation of sections 68 and 77 those sections are hereby declared to
apply to refunds under subsection (3).
[Section 39A inserted by No. 57 of 1986
s.7; amended by No. 17 of 1987 s.16.]