49.—(1) An officer may, in the prescribed manner, tender to the President the resignation of his commission.

(2) The President may accept or refuse to accept the resignation of his commission tendered by an officer.

(3) An officer who has tendered the resignation of his commission shall not, by reason merely of such tender, be relieved of his military duties.

(4) Where the resignation by an officer of his commission is accepted, such officer shall cease to be an officer.