Cap. 223 Art. 27Non-liability of Government and Bank.

(1) The Government, the Bank and any person acting under their authority shall not be liable in respect of any payment made or act done in accordance with the provisions of this Act or of any regulations made thereunder unless it is shown, in respect of any such person as aforesaid, that he acted in bad faith; and any payment made as aforesaid shall, saving the provisions of this Act concerning the rights of third parties, be deemed to be a valid payment and the receipt by the person to whom the payment is made shall constitute a full discharge of the Government and the Bank for the amount so paid.

(2) Where a warrant for any payment in respect of a bond is issued as payable to some person who is neither the holder nor a person otherwise entitled by or under this Act to receive such payment, then if it is shown that -

(a) the warrant was issued in good faith and without the warrant shall, saving the provisions of this Act concerning the rights of third parties, be deemed to have been duly issued to the person entitled to receive payment.