31.—(1) In the case where an annual sum which has been or might be awarded under these Regulations does not exceed £35, the compensating authority may, at its discretion, compound its liability in respect thereof by paying a lump sum equivalent to the capital value of the annual sum.
(2) In any other case, if the person who has been awarded long-term or retirement compensation requests it to do so, the compensating authority may after having regard to the state of health of that person and the other circumstances of the case, compound up to one quarter of their liability to make payments under the award (other than payments to a widow, child or other dependant under Regulation 24) by the payment of an equivalent amount as a lump sum.
(3) The making of a composition under paragraph (2) in relation to an award of long-term, or retirement compensation shall not prevent the subsequent making of a composition under paragraph (1) in relation to that award but, subject as aforesaid, not more than one composition may be made in relation to any award.