(1) The amount of statutory benefit payable under this Act to every qualified person in respect of the loss of ratoon mats suffered by his or her holding shall be a sum of money payable in such manner and in such instalments as may be prescribed and determined by multiplying the poundage of bananas estimated to have been delivered from the affected ratoon mats during the appropriate insurance year by the excess percentage and multiplying the result by the declared unit of benefit.
However—
(a) whenever the poundage of bananas represented to have been delivered from an affected holding during the appropriate insurance year was in fact produced from that holding and another holding or other holdings jointly in the possession and control of the same grower, the Authority may, by counting the total number of mats found growing on all the grower's holdings or otherwise, as it seems fit, assess the poundage of bananas which shall be deemed to have been delivered from the affected holding during the appropriate insurance year;
(b) where the ratoon mats of any holding have been affected by 2 or more windstorms in any policy year the aggregate amount of statutory benefit payable in respect of the loss of these mats occasioned by such windstorms shall not exceed the amount which would have been payable had those mats been totally affected by the first windstorm.
(2) For the purposes of this section, unless varied as in subsection (3), the declared unit of benefit shall be $0.02 per pound.
(3) The Authority may by regulations vary the declared unit of benefit for such period as may be specified.