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s 7

Payment of transfer value and advice as to contributor’s component

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Part 2Portability of entitlements

7 Payment of transfer value and advice as to contributor’s component

As soon as practicable after receipt by them of a duly made election referred to in section 6(1) the administrators of the approved superannuation scheme to which the election relates shall—

(a)

pay a transfer value from the fund administered by them to the administrators of the superannuation scheme to which the elector is a contributor; and

(b)

advise the administrators of the superannuation scheme to which the elector is a contributor of the amount of the transfer value that is the contributor’s component.

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