Where:
(a) a person makes an election (whether before or after the commencement of this subsection) under section 74, 82R or 82Z;
(b) that person makes an application to CSC not later than 3 months after the day on which the election is 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.