Regulation 5

The payment in good faith and in the ordinary course of business of any warrant to the person who presents the same and, in the case of a warrant payable to order, who purports to be the payee or to be a person claiming through the payee in due course shall be a good discharge to the Commissioners, notwithstanding that the warrant may have been stolen or that any indorsement of the payee or any subsequent indorsement may have been forged or made without authority or that there may be any other defect in the title of the person presenting the same.