An interim claim for a period allowed by paragraphs (2) and (3) below may be made at any time within one month before the period for which it is made, and is referred to in these Regulations as an “interim claim in advance”.

Interim claims in advance made by one life office may not (except where a change is authorised by prior approval of the Board) be made for periods of different kinds:

Provided that if the first claim made for industrial branch business (or the first such claim made after an authorised change) is a separate claim made for a four-weekly accounting period, this paragraph shall then apply separately in relation to industrial branch business and ordinary branch business.

An interim claim in advance for a period shall be based on an estimate of the deficiency that will arise in respect of premiums for that period, and the estimate shall be certified by an authorised officer of the claimant as being the best estimate that can reasonably be made of the deficiency; and if the claim is for an income tax month the estimate shall show the part of the deficiency attributed to each component part of the month.

If the Board are satisfied with the estimate they shall pay the estimated amount of the deficiency to the claimant before the end of the period for which the claim is made; if they are not so satisfied, they shall pay to the claimant before the end of the period such lesser amount if any as in their estimation will approximate to the deficiency.