Section 36
Section 36
{1) It shall be an implied condition in any contract that, where, by virtue of this Act, the permission or consent of the Controller is at the time of the contract required for the performance of any term thereof, that term shall not be performed except in so far as the permission or consent is given or is not required:
Provided that this subsection shall not apply in so far as it is shown to be inconsistent with the intention of the parties that it should apply, whether by reason of their having con-templated the performance of that term in despite of the provisions of this Act or for any other reason.
(2)
Notwithstanding anything in any written law re-lating to bills of exchange, neither the provisions of this Act, nor any condition, whether express or to be implied having regard to those provisions, that any payment shall not be made without the permission of the Controller under this
Act shall be deemed to prevent any instrument being a bill of exchange or promissory note.
(3)
The provisions of the Fourth Schedule shall have effect with respect to legal proceedings, arbitrations, bank-ruptcy proceedings, the adminstration of the estates of de-ceased persons, the winding-up of companies, and proceed-ings under deeds of arrangement or trust deeds for behoof of creditors.