(1)  Where a person who is appointed as Director was, immediately before his appointment, a State Service officer or State Service employee–

(a) he retains all his existing and accruing rights; and

(b) for the purpose of determining those rights, his service as Director shall be taken into account as if it were service as a State Service officer or State Service employee.

(2)  Where a person to whom this section applies is appointed as Director and was, immediately before his or her appointment, a contributor to the contributory scheme, that person remains a member of that scheme unless he or she elects, in writing to the Secretary, within one month after his or her appointment, to become a member of a complying superannuation scheme.

(3)  .  .  .  .  .  .  .  .