Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An eligible person who:
(a) is a member of the Defence Force:
(i) whose first service in the Defence Force began on or before 14 May 1985; or
(ii) whose first service in the Defence Force began after that day but who is covered by paragraph (ga) of the definition of Australian Soldier in subsection 4(1); and
(b) is not, and has not at any time been, a borrower; and
(c) does not hold a certificate of entitlement that is in force in relation to subsidy on an initial advance;
may elect to surrender his or her status as an eligible person under this Act.
(2) An election must be:
(a) in writing, signed by the person making it; and
(b) given to the Secretary within the prescribed period.
(3) Subject to section 4BB, an election is irrevocable and takes effect on the day on which it is given to the Secretary.
(4) When an election takes effect, the person making it stops being an eligible person for the purposes of this Act.
(5) The Secretary must cause a copy of each election to be given to the Secretary of the Defence Department.
(6) In this section:
"prescribed period" means the period of 6 months starting on the day on which this section commences.