In section 3 of the Salary, Allowances and Pension of Members of Parliament Act, 1954(30 of 1954) (hereinafter referred to as the principal Act), --
(a) for the words "at the rate of four thousand rupees per mensem", the words "at the rate of sixteen thousand rupees per mensem" shall be substituted;
(b) for the words "at the rate of four hundred rupees for each day", the words "at the rate of one thousand rupees for each day" shall be substituted;
(c) for the second and third provisos, the following proviso shall be substituted, namely: --
"Provided further that the rates of salary and allowance specified in this section shall be applicable for a period of five years from the 14th day of September, 2006 or until it is refixed, whichever is later.".