(1) Where a participant has opted out, the Authority shall repay to the participant, subject to subsection (3), the participant contributions paid by the participant in respect of payments of emoluments in the mandatory participation period.

(2) In subsection (1), the "mandatory participation period" means -

(a) where the participant opted out in the opt-out window referred to in section 54(2)(a), the period beginning with the enrolment date and ending with the opt-out date,

(b) where the participant opted out in the opt-out window referred to in section 54(2)(b), the period beginning with the re-enrolment date referred to in section 54(2)(b) and ending with the opt-out date,

(c) where the participant opted out in the opt-out window referred to in section 54(2)(c), the period beginning with the first day after years 1 to 3 and ending with the opt-out date,