(1) All leave accumulation of an officer shall lapse on his death or cessation of his service in the Bank.
(2) However, where an officer dies while in service, his legal representative will be paid sums which would have been payable to the officer had he availed of the privilege leave that had accumulated at the time of his death.
(3) Also, an officer who retires from the Bank’s service shall be eligible to be paid a sum equivalent to the emoluments (i.e. salary and allowances) of any period of privilege leave that he had accumulated as on the date of retirement.
EXPLANATION For the purpose of sub-Regulations (2) and (3) above, the total emoluments payable at the time of death or retirement will be taken into account.
RECALL FOR DUTY: