Section 35: Bona fide transaction without notice

35. Bona fide transaction without notice Subject to Sub-part IV of Part IV, nothing in this Act shall, in the case of a bankruptcy, invalidate— (a) any payment by the bankrupt to any of his creditors; (b) any payment or delivery to the bankrupt; (c) any conveyance or assignment by the bankrupt for valuable consideration; or (d) any contract, dealing or transaction by or with the bankrupt for valuable consideration, where— (i) the payment, delivery, conveyance, assignment, contract, dealing, or transaction, as the case may be, takes place before adjudication; and (ii) the person (other than the debtor) to, by or with whom the payment, delivery, conveyance, assignment, contract, dealing, or transaction was made, executed, or entered into, has not at the time of the payment, delivery, conveyance, assignment, contract, dealing or transaction, notice of the presentation of an application for a bankruptcy order before that time.