Section 67 and 70
(1) In the case of a policy of industrial assurance, other than any such policy issued before the person whose life is assured attained the age of six years, the date of the policy may be assumed to be one year after the actual date thereof, and, if it is so assumed, the duration of the policy may be assumed to be one year less than the actual duration.
(2) In the case of a policy of industrial assurance issued before the person whose life is assured attained the age of six years, no account shall be taken of any period for which the policy was in force before the anniversary of the date of the issue of such policy next preceding the date on which such person attained the age of seven years.
2. The amount of a free paid-up policy of industrial assurance shall be a sum bearing the same proportion to seventy-five per cent. of the value of the policy in relation to which such free paid-up policy is issued as the sum of one pound bears to the value of the reversion in
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