Subject to the provisions of this Regulation, no repayment shall be made in respect of an agreement entered into on behalf of or a certificate held by a person under the age of seven years.

An application for repayment in respect of an agreement entered into on behalf of or a certificate held by a mentally disordered person shall be made by his receiver.

Where it is shown to the satisfaction of the Director of Savings that any person holding, or having an interest in, an agreement or a certificate is either a person under the age of seven years or a mentally disordered person for whose estate no receiver has been appointed, the Director of Savings may, if he thinks fit, pay the whole or any part of the amount repayable in respect of the agreement or certificate to any person who satisfies him that he is a proper person to receive payment.