A regular officer of the Army or Air Force serving on active duty on the effective date of this Act [Sept. 15, 1981] whose retirement under chapter 367 or 867 [now 741 or 941] of title 10, United States Code, has been deferred before that date—“(1) under a provision of such chapter; or
“(2) by virtue of a suspension, under any provision of law, of provisions of such chapter which would otherwise require such retirement,
may continue to serve on active duty to complete the period for which his retirement was deferred or until such suspension is removed.
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