Bills of Exchange Ordinance

(Amended
10 of 2003 s. 3
)
Subject to the provisions of this
Ordinance—
(a)
where a cheque is not presented for payment within a reasonable time of its
                issue, and the drawer or the person on whose account it is drawn had the right, at
                the time of such presentment, as between him and the banker, to have the cheque paid
                and suffers actual damage through the delay, he is discharged to the extent of such
                damage, that is to say, to the extent to which such drawer or person is a creditor
                of such banker to a larger amount than he would have been had such cheque been
                paid;
(b)
in determining what is a reasonable time, regard shall be had to the nature of
                the instrument, the usage of trade and of bankers, and the facts of the particular
                case;
(c)
the holder of such cheque as to which such drawer or person is discharged shall
                be a creditor, in lieu of such drawer or person, of such banker to the extent of
                such discharge and entitled to recover the amount from him.
[cf. 1882 c. 61 s. 74 U.K.]