Provision as to application of this Part

(1) This Part shall apply to contracts, whether made before or after the commencement of this Act, as respects which the time of discharge is on or after 1st July, 1943, but not to contracts as respects which the time of discharge is before the said date. (2) This Part shall apply to contracts to which the Crown is a party in like manner as to contracts between subjects. (3) Where any contract to which this Part applies contains any provision which, upon the true construction of the contract, is intended to have effect in the event of circumstances arising which operate, or would but for the said 14 provision operate, to frustrate the contract, or is intended to have effect whether such circumstances arise or not, the court shall give effect to the said provision and shall only give effect to section 20 of this Act to such extent, if any, as appears to the court to be consistent with the said provision. (4) Where it appears to the court that a part of any contract to which this Part applies can properly be severed from the remainder of the contract, being a part wholly performed before the time of discharge, or so performed except for the payment in respect of that part of the contract of sums which are or can be ascertained under the contract, the court shall treat that part of the contract as if it were a separate contract and had not been frustrated and shall treat section 20 as only applicable to the remainder of that contract. (5) This Part shall not apply, (a) to any charter-party, except a time charter- party or a charter-party by way of demise, or to any contract, other than a charter-party, for the carriage of goods by sea; or (b) to any contract of insurance, except as is provided by section 20(5) of this Act; (c) to any contract to which section 9 of the Sale of Goods Act, Cap. 261, which avoids contracts for the sale of specific goods which perish before the risk has passed to the buyer, applies, or to any other contract for the sale, or for the sale and delivery, of specific goods, where the contract is frustrated by reason of the fact that the goods have perished.