18Interim payments in respect of P.A.P. wool

18.—(1.) Subject to any directions of the Minister, the Commission may at any time make interim payments to a registered broker or registered classing house, upon such conditions as the Commission determines, in respect of deficiency payments that are likely to become payable by the registered broker or registered classing house in respect of P.A.P. wool.

(2.) Notwithstanding section 27 of this Act, a registered person shall pay an interim payment received in accordance with the last preceding sub-section to the credit of a bank account approved by the Commission for the purposes of this section, being an account maintained by the registered person for the purposes of the price averaging plan conducted by the Commission, and any interest earned, or any saving of interest, by reason of such a payment shall be for the benefit of that account.

(3.) Where—

(a) a registered person makes, in respect of P.A.P. wool, an advance to a person entitled to share in the pool proceeds; and

(b) that advance exceeds the amount that is found to be properly payable to that person out of the pool proceeds,

an amount not exceeding the amount of the excess may be deducted by the registered person from a deficiency payment becoming payable to a person in respect of that wool, and the amount so deducted shall be deemed, for the purposes of this Act, to have been paid to that last-mentioned person as a deficiency payment.

Payment of deficiency payments in special circumstances.