49. For the purposes of regulations 39 to 41 where–
(a)any payment to the collector is made by cheque, and
(b)the cheque is paid on its first presentation to the banker on whom it is drawn,
the payment shall be treated as paid on the day on which the cheque was received by the collector, and “pay”, “paid”, “unpaid” and “ overpaid” shall be construed accordingly.