Local, Government (Superannuation) Act, 1948
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Determination of lump sum granted to established officer. |
24.—The amount of the lump sum to be granted under section 23 of this Act to an established officer shall be equal to— | |
(a) one-thirtieth of his pensionable remuneration multiplied by the number of the years of his service at the termination of his office, or | ||
(b) one and one-half times his pensionable remuneration, whichever is the less. |