Section 28: Contracts, legal proceedings, etc

(1) It shall be an implied condition in any contract that where by virtue of this Act the permission or consent of the Minister 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. Nothing in this subsection shall apply to a contract where it is shown to be inconsistent with the intention of the parties that it should apply, whether by reason of the parties having contemplated the performance of that term in despite of the provisions of this Act, or for any other reason.
(2) Cap. 35.
Notwithstanding anything in the Bills of Exchange Act, 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 Minister under this Act, shall be deemed to prevent any instrument being a bill of exchange or promissory note.
(3) The provisions of the Third Schedule to this Act shall have effect with respect to legal proceedings, arbitrations, the administration of the estates of deceased persons, the winding up of companies, and proceedings under deeds of arrangement or trust deeds for behoof of creditors