Transitional provision in respect of increase in insured sum
16.—(1)  Subject to paragraph (2), where an insured person’s annual insurance cover under the Scheme commenced or was renewed within one year before the implementation date, his insured sum for the unexpired period of his annual insurance cover under the Scheme with effect from that date shall be an amount computed in accordance with the following formula:
where A
is the sum for which he was insured under the Scheme immediately before the implementation date.
(2)  Paragraph (1) shall not apply to the insured sum payable in any case in which the death or incapacity of the insured person occurred before the implementation date or is deemed to have occurred before the implementation date.