Document ID: chunk:federal_register_of_legislation:C2004A01840:section:24:p1
Version: federal_register_of_legislation:C2004A01840
Segment Type: section
Provision Reference: s 24 (pt 1/8)
Character Range: 20272–22836

24

     where x is the number of whole months in the period that commenced on the day on which he attained the age of 65 years and ended on the day immediately before he became entitled to the retiring allowance.

"(5) The cases referred to in paragraph (a) of sub-section (4) are—
     (a) the case where the person had not attained the age of 66 years at the time when he became entitled to the retiring allowance;

     (b) the case where the person attained the age of 66 years after the dissolution or expiration of the House of which he was last a member, or after the expiration of his last term of office as a member, and before he became entitled to the retiring allowance; and
     (c) the case where—
         (i) the person attained the age of 66 years at a time when he was a member;
        (ii) the person ceased to be a member upon the dissolution or expiration of the House of which he was a member at the time when he attained that age or upon the expiration of the term of office during which he attained that age; and
         (iii) the person did not, after so ceasing to be a member, again become a member before he became entitled to the retiring allowance.

"(6) Where a person elects to convert a percentage of his retiring allowance to a lump sum payment in accordance with sub-section (3)—
     (a) the percentage of the rate of the parliamentary allowance applicable in relation to him under section 18 for the purpose of calculating the rate of the retiring allowance payable to him shall, in lieu of the percentage (in this paragraph referred to as the 'previous percentage') that would, but for this paragraph, be applicable under that section, be the percentage ascertained in
     accordance with the formula  p (x−y),  where—
                                  x

        p is the previous percentage;
        x is the annual amount of the retiring allowance payable to the person; and
        y is the part of the annual amount of the retiring allowance payable to the person that he elected to convert to a lump sum payment; and
     (b) if a payment or payments of retiring allowance has or have already been made to him since he became entitled to the retiring allowance, the amount of the lump sum payment referred to in sub-section (4) shall be reduced by so much of the amount of the payment, or of the sum of the amounts of the payments, already made as relates or relate to the percentage of the retiring allowance that he elected to convert to a lump sum payment.

"(7) A reference in this section to the annual amount