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15. In regulation 87(4), for the words “to such period of membership as is appropriate in accordance with guidance issued by the Government Actuary” substitute—
“to a period of membership equal to the period of membership in the employment which has ceased, as reduced under regulation 11(4) if the employment which has ceased was part-time, multiplied by the fraction—
where the rate of pay in each case is the annual rate of pay on the last day of employment in the employment which has ceased.”.
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