PENSIONS AND SOCIAL SECURITY ACT - 1975 (SMCD 8)

    Section - 5 - Failure to Exercise Option

    (1) Where a person to whom section 4 of this Decree applies fails for any reason to exercise the option conferred on him within the twelve-month period allowed him under that section, then unless the Supreme Military Council otherwise directs, he shall be deemed to have exercised an option in the manner specified in subsection (1) (b) of the said section.

    (2) Where a person to whom section 4A of this Decree applies has died without exercising an option under section 4 he shall be deemed to have exercised an option in the manner specified in subsection (1) (a) of the said section 4."; and. [As substituted by Pensions and Social Security (Amendment) Decree 1978 (SMCD 178) s. 1(b)]