37.—(1) Notwithstanding the preceding provisions of this schedule, if the annual sum which has been or might be awarded under those provisions does not exceed twenty-six pounds, the compensating authority may at their discretion discharge their liability in respect thereof by the payment of a lump sum representing the capital value of the annual sum, and if any lump sum has been or might be awarded in addition to such annual sum under the provisions of paragraph 12 of this schedule, the compensating authority may likewise discharge their liability in respect thereof by an immediate lump sum payment.
(2) If the annual sum which has been or might be so awarded exceeds twenty-six pounds, and the claimant is not entitled to any lump sum in respect of accrued retiring allowance under these regulations, the compensating authority, if so requested by the claimant, may discharge their liability in respect of one quarter thereof by the payment of a lump sum representing the capital value of one quarter of the annual sum:
(3) Any lump sum payable under the preceding provisions of this paragraph shall be of such amount as shall be certified by an actuary to be appropriate.