7. Regulation 16 of the principal Regulations is amended —(a) | by deleting the words “every serving member” in paragraph (1) and substituting the words “every member who is a serving member as at 1st January 2002”; | (b) | by deleting the words “the serving member” wherever they appear in paragraphs (1) and (2)(a) and substituting in each case the words “the member”; | (c) | by deleting the words “any serving member” in paragraph (2) and substituting the words “any member who is a serving member as at 1st January 2002”; and | (d) | by inserting, immediately after paragraph (2), the following paragraphs:“(3) Subject to paragraphs (4) and (5), where, on 1st January 2008, the length of service of a serving member as at that date is not more than 40 years, a contribution may be credited to his member’s account in any year in which, on 1st January of that year, his length of service is more than 30 years but not more than 40 years, in respect of his qualifying service in that year. |
(4) Where, on 1st January 2008, the length of service of a serving member as at that date is not more than 30 years, there shall be credited to his member’s account a contribution of such amount in each such year as an Award Administrator shall, with the approval of the Minister, specify from time to time by notice in writing to the member. |
(5) Where, on 1st January 2008, the length of service of a serving member as at that date is more than 30 years but not more than 40 years, there shall be credited to his member’s account a contribution of such amount, being an amount of not less than —(a) | $3,200, if he is a Category A member; or | (b) | $2,400, if he is a Category B member, |
in each such year as an Award Administrator shall, with the approval of the Minister, specify from time to time by notice in writing to the member. |
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(6) Where any contribution has been credited under paragraph (4) or (5) to the member’s account of a member who is a serving member as at 1st January 2008, the member may be granted an award out of those contributions of such amount in such year as an Award Administrator shall, with the approval of the Minister, specify from time to time by notice in writing to the member.”. |
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