Rescheduling payments

Current

Payments by instalment

(1)

If:

(a)

the payments are to be made by the member or dependant by instalment; and

(b)

the first instalment falls due before the end of the member’s protected period;

then:

(c)

the time for paying the first unpaid instalment is postponed so that the payment falls due at the end of the member’s protected period; and

(d)

the time for paying each later instalment is postponed for a period of the same length as the member’s protected period.

Single payment

(2)

If:

(a)

only a single payment is to be made by the member or dependant; and

(b)

the payment falls due before the end of the member’s protected period;

the time for making the payment is postponed so that it falls due at the end of the member’s protected period.

Exception in section 51

(3)

This section is subject to section 51.

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