RULE 18- NUMBER OF POLICIES THAT CAN BE FINANCED FROM THE FUND
18. Number of Policies That Can Be Financed From The Fund
(1) The number of policies in respect of which substitution for subscriptions due to the Fund or withdrawal of subscriptions from the Fund may be permitted under rule 17, shall not exceed four;
Provided that where immediately before the 22nd June, 1953, substitution for subscription due to the Fund or withdrawal of subscriptions from the Fund, was permitted in respect of more than four policies, such substitution or withdrawal shall continue to be permitted in respect of those policies.
(2) The premium for a policy [including any policy referred to in the proviso to sub-rule (1)] in respect of which withdrawal of subscriptions from the Fund may be permitted under rule 17 shall not be payable otherwise than annually.
Explanation – In computing maximum number of policies specified in sub-rule (1), policies which. have matured or have been converted into paid up policies shall be excluded.