As enactedVersion · As enacted
8. Validation
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Where any bank collects for remittance to the Commis-sioner-General, during the period commencing on May 15,
1992 and ending on the date of commencement of this Act, from an importer of an article on his Opening a letter of credit, an amount in excess of one per centum of the value of such letter of credit, such collection shall be deemed, for all purposes, to have been, and to be, validly made, and such bank is hereby indemnified against all actions, civil or criminal, in respect of such collection.
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| Act, No. 36 of 1992