3The right to receive any payment from the Secretary of State under any of the enactments described in Schedule 1 to this Act shall be extinguished unless an application has been duly made for the payment before 1st September 1972, or such later date as he may in exceptional circumstances allow, and unless the Secretary of State is satisfied that the information and other particulars given (before that date) on the application—
(a)are sufficient to enable him to determine the amount of the payment, or
(b)are such as to enable him to make a payment based on an estimate in pursuance of paragraph 2 of this Schedule.