(1) Subject to these Regulations, where a contribution is paid by an insured person who is or was a self-employed contributor or who is or was a voluntary contributor by virtue of section 21(1)(b) and who -

(a) had attained the age of 56 years on the 6th day of April, 1988, and

(b) became a self-employed contributor within the meaning of section 17 on or after the 6th day of April, 1988,

the amount of such contribution calculated in accordance with sub-article (2) to have been paid in respect of State pension (contributory) shall be returned to the insured person if application to that effect is made in writing to the Minister within such time as he may determine.

(2) The amount of a contribution to be returned to an insured person under sub-article (1) shall be 53 per cent. of -

(a) the amount of the self-employment contribution paid in accordance with section 18(1)(a), 18(1)(b) or 18(1)(c), or

(b) the amount of the voluntary contribution paid in accordance with section 23(1).