Bills of Exchange Ordinance

(1)
An indorsement in blank specifies no indorsee, and a bill so indorsed becomes payable to bearer.
(2)
A special indorsement specifies the person to whom, or to whose order, the bill is to be payable.
(3)
The provisions of this Ordinance relating to a
payee apply, with the necessary modifications, to an indorsee under a special indorsement.
(4)
When a bill has been indorsed in blank, any holder may convert the blank indorsement into a special indorsement by writing above the indorser’s signature a direction to pay the bill to or to the order of himself or some other person.
[cf. 1882 c. 61 s. 34 U.K.]