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"formula I"

in relation to a specified member and any matter to be calculated in accordance with formula I, means—

 

A × B

 

in which formula—

(a) A represents the amount which the Minister, subject to the provisions of subsection (2), may with the concurrence of the Minister of Finance determine from time to time; and
(b) B represents the percentage at which the pensionable disability of a member may have been determined;