3.—(1) This paragraph shall apply in the case of a regular policeman who—
(a)ceased to serve as a member of his former force before 24th January 1975;
(b)was entitled to reckon less than a year’s pensionable service immediately before he ceased so to serve, and
(c)in respect of whom a transfer value is payable under Regulation F8 or F9.
(2) In respect of such a regular policeman a transfer value calculated in accordance with Sections 1 and 3 of Part II of Schedule F shall be the appropriate proportion of the transfer value which would have been payable under Regulation F8 or F9 if he had been so entitled to reckon a year’s pensionable service, that is to say, the proportion which the pensionable service he was so entitled to reckon bears to a year.