Section 386: Validation of certain payments made in good faith to holder of invalid certificate

Validation of certain payments made in good faith to holder of invalid certificate. Where a certificate under this Part has been super-seded or is invalid by reason of the certificate having been revoked under section 383, or by reason of the grant of a certificate to a person named in an appellate order under section 384, or by reason of a certificate having been previously granted, or for any other cause, all payments made, or dealings had, as regards debts and securities specified in the superseded or invalid certificate to or with the holder of that certificate in ignorance of its supersession or invalidity, shall be held good against claims under any other certificate.

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