(1) The claimant may constitute a limitation fund by paying into court the Eastern Caribbean (or in the case of the Virgin Islands, the United States) dollar equivalent of the number of special drawing rights to which the claimant claims to be entitled to limit its liability under the Act together with interest thereon from the date of the occurrence giving rise to its liability to the date of payment into court.
(2) If the claimant does not know the appropriate equivalent of the said number of special drawing rights on the date of payment into court, it may calculate the same on the basis of the latest available published Eastern Caribbean or United States (as the case may be) dollar equivalent of a special drawing right as fixed by the International Monetary Fund.
(3) In the event of the appropriate dollar equivalent of a special drawing right on the date of payment into court being different from that used under paragraph (2), the claimant may —
(a) make up any deficiency by making a further payment into court which, if made within 14 days after the payment into court under paragraph (1), is to be treated, except for the purposes of the rules relating to the accrual of interest on money paid into court, as if it had been made on the date of that payment into court; or
(b) apply to the court for payment out of any excess amount (together with any interest accrued thereon) paid into court under paragraph (1).
(4) An application under paragraph (3)(b) may be made without notice.
(5) The application must be supported by evidence on affidavit proving the appropriate dollar equivalent of the appropriate number of special drawing rights on the date of payment into court.
(6) On making any payment into court under this rule, the claimant must give notice thereof in writing to every defendant, specifying the —
(a) date of payment in;
(b) amount paid in;
(c) amount of interest included therein;
(d) rate of such interest; and
(e) period to which such interest relates.
(7) The claimant must also give notice to every defendant of any excess amount (and any interest thereon) paid out to the claimant under paragraph (3)(b).