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7. In rule 15 (application to encroach on capital)–
(a)after paragraph (2), there shall be inserted the following paragraph:–
“(2A) Where the amount of encroachment does not exceed 5% of the initial capital of the estate, the Accountant may in his discretion approve the encroachment.”; and
(b)in paragraph (3)(a), for the words “On receipt of such an application, the Accountant” there shall be substituted the words “Where the Accountant does not approve the encroachment in accordance with paragraph (2A), on receipt of an application under paragraph (1) of this rule he”.