34.
—(1) A member may, subject to the approval of the Committee, assign to the trustees any existing policy of assurance which is free from any lien or charge, and the Committee shall then pay future premiums from the amount standing to the credit of the member’s Contributions Account.
(2) The conditions applicable for the payment of contributions towards a life or endowment assurance under rule 33(2) shall be applicable to a policy assigned under paragraph (1).