(1) The court or person adjudicating the claim of a salvor may, upon the application of the salvor, make an interim order for payment to the salvor of such amount as the court or person may deem fair and just, and on such terms, including terms as to security where appropriate, as may be fair and just in the circumstances of the case.
(2) In the event of any interim payment under subsection (1) the security provided under section 396 shall be reduced accordingly.