Where:
(a) a person makes an election (whether before or after the commencement of this section) under section 24, 32A, 69 or 76 or is deemed by subsection 128(2) to have made such an election;
(b) that person, or another person whom CSC has, under subsection 128(2), allowed to make an election under a provision of this Act on behalf of the first - mentioned person, makes an application to CSC not later than 3 months after the day on which the election is made or is deemed to have been made, or within such further period as CSC, in special circumstances, allows, requesting that CSC cancel the election; and
(c) CSC, having regard to such matters (if any) as it considers relevant, is satisfied that the election should be cancelled;
CSC may direct that the election shall be cancelled and, if it so directs, this Act has effect as if the election had not been made.