(1) The Bank may administer guarantee payments to persons through the systems and facilities of the credit institution concerned.
(2) The Bank may make a guarantee payment without an application.
(3) The Bank may make a guarantee payment directly into an account or accounts maintained by another credit institution.
(4) The Bank may make a guarantee payment without fully or at all investigating the merits or amount of the relevant claim if in the opinion of the Bank -
(a) the costs of such an investigation would be reasonably likely to exceed the amount of the guarantee payment,
(b) it is reasonable to make the payment without any such investigation in the interests of the proper and orderly administration of these Regulations; and
(c) the claim does not relate to a deposit excluded by Regulation 16 from being an eligible deposit.
(5) If the Bank provides funds to pay persons maintaining eligible deposits, the person to whom the funds are provided shall give the Bank proof that tho