(3)If such a policy matures before the subscriber quits service the Executive Officer shall-(a)if the amount assured together with the amount of any bonuses which have accrued is greater than the whole of the amount withdrawn from the fund in respect of the policy with interest thereon at the rate provided in Rule 451, reassign the policy to the subscriber and make it over to him who shall immediately on receipt of the proceeds from the insurance company repay to the fund the whole of any amount withdrawn with interest and in case of default the Executive Officer shall arrange to recover the amount by deduction from the emoluments of the subscriber by instalments or otherwise as the Council may direct; and(b)if the amount assured together with the amount or any accrued bounced is less than the whole of the amount withdrawn from the fund in respect of the policy with interest thereon at the rate provided in Rule 448, realise under Sub-rule (2) the amount assured together with any accrued bonuses and shall place the amount so realised to the credit of the subscriber in the fund.
