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Bills of Exchange Act 1882

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Changes over time for: Section 74B

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Version Superseded: 26/03/2015

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Point in time view as at 01/01/2010. This version of this provision has been superseded. Help about Status

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There are currently no known outstanding effects for the Bills of Exchange Act 1882, Section 74B. Help about Changes to Legislation

[F174B Presentment of cheque for payment: alternative means of presentment by bankerU.K.

(1)A banker may present a cheque for payment to the banker on whom it is drawn by notifying him of its essential features by electronic means or otherwise, instead of by presenting the cheque itself.

(2)If a cheque is presented for payment under this section, presentment need not be made at the proper place or at a reasonable hour on a business day.

(3)If, before the close of business on the next business day following presentment of a cheque under this section, the banker on whom the cheque is drawn requests the banker by whom the cheque was presented to present the cheque itself—

(a)the presentment under this section shall be disregarded, and

(b)this section shall not apply in relation to the subsequent presentment of the cheque.

(4)A request under subsection (3) above for the presentment of a cheque shall not constitute dishonour of the cheque by non-payment.

(5)Where presentment of a cheque is made under this section, the banker who presented the cheque and the banker on whom it is drawn shall be subject to the same duties in relation to the collection and payment of the cheque as if the cheque itself had been presented for payment.

(6)For the purposes of this section, the essential features of a cheque are—

(a)the serial number of the cheque,

(b)the code which identifies the banker on whom the cheque is drawn,

(c)the account number of the drawer of the cheque, and

(d)the amount of the cheque is entered by the drawer of the cheque.]

Textual Amendments

F1S. 74B inserted (28.11.1996) by S.I. 1996/2993 art. 4

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