(1) The succeeding sections of this Division do not apply in relation to a person in relation to whom section 119H applies.
(2) An employee to whom section 68 applies and who became an employee before 1 January 1970, may, within three months after the commencement of this section or within such further period as the Board, in special circumstances, allows, elect to contribute in accordance with Division 2 of Part XA and, in that case, that Division (other than section 119M) has effect in relation to him and so has effect as if he had become an employee on the date of the election.
(3) Any contribution payable by reason of an election made under subsection (2) is payable as from the date of the election.