Page:United States Statutes at Large Volume 60 Part 1.djvu/56

 79TI CONG., 2D SESS.-CH. 34-FEB. 21, 1946 him while on active duty and with retired pay at the rate of 21/2 per centum of the active-duty pay with longevity credit of the rank with which retired, multiplied by the number of years of service for which entitled to credit in the computation of his pay while on active duty, not to exceed a total of 75 per centum of said active-duty pay: Provided, That a fractional year of six months or more shall be considered a full year in computing the number of years of service by which the rate of 21/ per centum is multiplied: Provided further, That an officer whose computation of pay on the active list is not based upon years of service shall receive as retired pay 75 per centum of his active duty pay: Provided, however, That the President may, in his discretion, defer placing any such officer on the retired list for the length of time he deems advisable but not later than the date upon which such officer attains the age of sixty-four years, except that not more than ten officers whose retirement is so deferred shall be on the active list at any one time: And provided further, That no officer of the Navy or Marine Corps shall be placed upon the retired list pursuant to this section until the first day of the sixth month following the date of approval of this Act or until the date upon which he would be retired for age pursuant to law existing prior to the date of approval of this Act, whichever may be the earlier. SEC. 10. The provisions of this Act, except as may be necessary to adapt the same thereto, shall apply to personnel of the Coast Guard in relationship to the Coast Guard in the same manner and to the same extent as they apply to personnel of the Navy in relationship to the Navy: Provided, That wherever authority is given to the Secretary of the Navy, similar authority shall be deemed given to the Secretary of the Treasury to be exercised with respect to the Coast Guard at such time or times as the Coast Guard shall be operating under the Treasury Department: Providedfurther, That the boards to consider and recommend for retirement officers of the Coast Guard serving in the ranks of rear admiral and commodore shall be composed of senior Coast Guard officers if available or otherwise as the Secretary shall determine. SEC. 11. The following Acts and parts of Acts are hereby repealed: (a) Section 13 and subsection (e) of section 15 of the Act of June 23, 1938 (52 Stat. 951 and 952). (b) Section 1444 of the Revised Statutes of the United States as amended by that portion of the Act of August 29, 1916 (39 Stat. 579), reading: "except as herein otherwise provided, hereafter the age for retirement of all officers of the Navy shall be sixty-four years instead of sixty-two years as now prescribed by law"; section 2 of the Act of January 28, 1929 (ch. 109, 45 Stat. 1142); and section 6 of the Act of June 30, 1942 (56 Stat. 465). (c) Subsection 12 (e) of the Act of June 23, 1938 (52 Stat. 950). SEC. 12. The provisions of section 3 of this Act shall terminate on June 30 of the fiscal year following that in which the present war shall be declared to be ended by proclamation of the President or by an Act or resolution of Congress. Approved February 21, 1946. Retired pay. Fractional year. Deferment by Presi- dent. Time restriction. Coast Guard. Repeals. 34U.S. C.§§398a, 687. 34U. S.C. 384. 34U.S.C.§384; 50 U. S. C., Supp. V, app. § 811. 34U.S. C. §404(e). Ante, p. 27. 29 60 STAT.]

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