(3)Where, on an application made to it in this behalf, any Court or Claims Tribunal, which has made an award for compensation under this Act, is satisfied-(i)that the applicant has exhausted all other remedies open to him to recover his dues from the insurer, or(ii)that the award has been made after the insurer has gone into liquidation, it may direct the payment of such, compensation from out of the sum deposited under sub-section (1):Provided that in the case of the insolvency of the insurer-(a)such payment shall not be made until all claims under this Act against the insurer have been settled; and(b)payment so made shall be proportionate to the amount of compensation allowed in each case.]
