(2)
The distributable amount shall be the total of all sums
paid into the Fund, after the deduction of any payments made
therefrom into the Consolidated Fund in accordance with any Order in
Council made under section 7(2) of the Foreign Compensation Act 1950 as originally enacted and as applied by section 3(3) of the Foreign Compensation Act 1962(a).
26. - (1)
Whether or not all claims under this Order have been registered or, as the case may be, finally determined by the Commission, the Commission shall make from the Fund interim payments
in accordance with paragraph (3) of this Article and may make from
the Fund interim payments under paragraph (4) of this Article.
(2)
Interim payments made under the provisions of this.
Article shall be made on account of payments to be made in
accordance with Article 25 of this Order.
(3) At such time or times after [ ] as the Secretary of
State shall specify the Commission shall make to all persons whose claim in respect of a bond has been registered by the Commission
under Part III of this Order an interim payment representing such
percentage of the value assigned to the bond as the Secretary of State may direct. For this purpose the Commission shall, when so requested by the Secretary of State, estimate the total liability likely to fall upon the Fund, and report thereon to the Secretary of
State.
(4) Subject to the prior approval of the Secretary of State,
the Commission may, at such time or times as they may decide, make interim payments to any of the persons who have established claims
under Part V of this Order.
(a) 1962 c.4 (11 & 12 Eliz.2).
No comments yet.
Private notes are available after approval.