Section 51
Validity of certain payments to bankrupt and assignee
ActIn forceProvision 51 of 120
Section 51
A payment of money or delivery of property to a person subsequently adjudged bankrupt or to a person claiming by assignment from him shall, notwithstanding anything in this Act, be a good discharge to the person paying the money or delivering the property if the payment or delivery is made -
(a)
before the actual date on which the receiving order is made;
(b)
without notice of the presentation of a bankruptcy petition;
and
(c)
is either pursuant to the ordinary course of business or otherwise in good faith.