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7.—(1) Any participating member who has applied to the Parliamentary corporation to purchase added years by a lump sum payment shall, within the period of six months commencing on the date when his application is accepted by the Parliamentary corporation, make the lump sum payment which shall be calculated by reference to a member’s salary at the time when his application was received by the Parliamentary corporation and in accordance with tables to be prepared from time to time by the Government Actuary and the amount of his reckonable service as a single mandate member shall be increased accordingly with effect from the date on which the lump sum payment is received by the Parliamentary corporation.
(2) If, after an application to purchase added years by lump sum payment has been made by a participating member and accepted by the Parliamentary corporation, the payment is not received by the Parliamentary corporation within the period of six months mentioned in sub-paragraph (1) above, the application to purchase shall cease to be valid.
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