S.L. 373.4 Art. 6Validity of payment or transaction.

A payment made or received, or a transaction carried out, in contravention of regulation 3(1) shall not affect the legal validity of the payment or transaction, and of the contractual obligation in respect of which the payment or transaction was carried out, and all parties to the payment or transaction shall be bound by their contractual obligations notwithstanding such contravention.