Option to take retirement compensation prematurely in certain cases

19.—(1) If a pensionable officer to whom this Part of these Regulations applies has suffered loss of employment after attaining the age of fifty years and so requests the compensating authority by notice in writing, he shall be entitled as from the date on which the compensating authority receive such notice, in lieu of any compensation, other than resettlement compensation, to which he would otherwise be entitled under these Regulations, to an annual sum equal to the amount of his accrued pension and a lump sum equal to the amount of his accrued retiring allowance (if any):

Provided that—

(i) in calculating the amount of the compensation payable to a person who has given such notice as aforesaid no account shall be taken of any additional years of service or period of contribution credited to the person under Regulation 23(2) of these Regulations, and

(ii) where the officer has claimed long-term compensation, the said notice shall be given not later than two years after the determination of the claim or, where the determination is reviewed under Regulation 35(3) of these Regulations, not later than two years after any such review.

(2) Regulation 18(2) of these Regulations shall apply in relation to a notice given under the last foregoing paragraph as it applies to a claim made under paragraph (1) of that Regulation.

(3) Where an annual sum is payable under this Regulation in respect of any period and resettlement compensation is also payable in respect of that period, the said annual sum shall be limited to the amount (if any) by which it exceeds the resettlement compensation payable as aforesaid.