(1)The foreman shall, on a prized subscriber furnishing security as provided for in clause (d) of sub-section (1) of section 16 for the payment of the future subscriptions, be bound to pay him the prize amount and shall be entitled to get from him an acknowledgment in writing evidencing such payment:Provided that the foreman shall, on demand by a prized subscriber, pay him on the due date the amount which represents the difference between the prize amount and the amount of the future subscriptions without any security whatsoever, and in such case the foreman shall, before the date of the next succeeding instalment, deposit in an approved bank mentioned in the vaiola the amount of future subscriptions and he shall not withdraw the amount so deposited except for payment of future subscriptions.
