British Passport or ILR for Child born outside UK?

Dear moderators and gurus,

I have a quick question.

I have an ILR which was granted this year.

My child was born outside UK and currently is of age 3. At the moment he is on Tier 1 (General Dependent) which expires next year. He has not completed his 5 years here in the UK. I am pretty sure that is not required for dependents under 18.

Can I apply for his British passport using the JCAP process for MN1 now? Is he eligible for that?
Or do I need to first apply for his ILR next year, once that is granted, then apply for the British passport after the ILR?

Any advice would be appreciated.
Thanks!

Children born abroad require ILR before they can apply for citizenship. Apply for ILR when other parent applies.

The UK immigration status of children born abroad to non-EEA parents is in-line with that of the less-privileged parent.

S/he can apply for ILR with the second parent and can be registered as a British citizen when both parents are settled in the UK (ILR) with at least one parent also having acquired British citizenship. The child is also expected to have ILR before registration.