PART IIN.I.RULE FOR ASCERTAINING THE AMOUNT OF A FREE PAID-UP POLICY
6. Subject to Article 35 and Schedule 7, the amount of a free paid-up policy is to be a sum bearing the same proportion to 75 per cent. of the value of the policy as the sum of £1 bears to the value of the reversion in the sum of £1, according to the contingency upon which the sum assured under the original policy was payable.N.I.