49. An election referred to in section 47 may not be cancelled nor may a new election be made under section 60 or 67, unless(1) the contributor applies to Retraite Québec to have his election cancelled and to make a new election within 3 months of the day on which he realized that he received false or misleading information;
(2) Retraite Québec is convinced that the contributor made his election on the basis of false or misleading information referred to in section 48 and that without such false or misleading information, the contributor would have elected other benefits under this plan or would have made his election earlier;
(3) the contributor, within 30 days following notice from Retraite Québec of the amount to be repaid, pays back the amounts paid to him as benefits payable over the effective duration of the election referred to in section 47, 60 or 67.