10.—(1) In the case of a whole-time officer to whom this Part of this Schedule applies, compensation under the said Part for loss of office shall be awarded by way of an annual sum payable until normal retiring age which sum shall not exceed a sum calculated as follows, namely:—
for every completed year of the officer's service, one-sixtieth of the net emoluments of the office he has lost; and in addition in the case of an officer who has attained the age of forty-five years at the date of loss, one-sixtieth of the said net emoluments for every completed year of service since he attained that age;
so however that the sum shall not in any case exceed two-thirds of the net emoluments of the office which he has lost.
(2) In computing service for the purposes of this paragraph any service in part-time employment shall be treated as though it were service in whole-time employment for a proportionately reduced period.