1) If a pension does not exceed a prescribed amount, the Director-General may, upon the application of the pensioner, pay or direct the payment of a lump sum in lieu of that pension or a portion thereof.
2)
a) If a pension exceeds the prescribed amount, the Director-General may, upon the application of the pensioner, in lieu of a portion of that pension not exceeding the prescribed amount pay or direct the payment of a lump sum.
b) If the balance of the pension payable is less than the prescribed amount per month, the Director-General may pay or direct the payment of a lump sum in lieu of the whole of such pension.
3) No pension or portion of a pension due to a child shall be paid in a lump sum.
4) Any lump sum in terms of this section shall be calculated on the basis determined by the Director-General, and the payment thereof shall be subject to the control of the Director-General as referred to in section 59.