ISBN Publisher. International Law Book Services (ILBS). Year of Publication. Yearly print / cover colour might change. This Act may be cited as the Bills of Exchange Act Interpretation. 2. In this Act, unless the context otherwise requires– “acceptance” means an acceptance. 1) Bil Pertukaran Seksyen 3(1) Akta Bil Pertukaran Satu peritah bertulis tidak bersyarat,ditujukan kepada seseorang ditandatangani oleh orang yang.

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If he does not, the holder shall lose the right of recourse against the drawer and indorsers.

Bills of Exchange 11 2 An instrument which does not comply with these conditions, or which orders pertkkaran act to be done in addition to the payment of money, is not a bill of exchange. The provisions of this Act relating to crossed cheques shall, so far as applicable, have effect in relation to instruments other than cheques to which section 85 applies as they have effect in relation to cheques.

Banking / Finance

The duty and authority of a banker to pay a cheque drawn on him by his customer are determined by– a countermand of payment; b notice of the customer’s death. Lost Instruments Holder’s right to duplicate of lost bill Payment for honour supra protest Rights of the holder Capacity of parties Laws of Malaysia ACT 2 Where the banker on whom a cheque is drawn which is so crossed nevertheless pays the same, or pays a cheque crossed generally otherwise than to a banker, or if crossed specially otherwise than to the banker to whom it is crossed, or his agent for collection being a banker, he is liable to the true owner of the cheque for any loss he may sustain owing to the cheque having been so paid: Time for acceptance Rules as to presentment for payment Ante-dating and post-dating When a bill is duly presented for acceptance and is not accepted within the customary time, the person presenting it must treat it as dishonoured by non-acceptance.

General and qualified acceptances Provided that– i when the last day of grace falls on a Sunday, public holiday or bank holiday; Bills of Exchange 15 ii when the last day of grace of a bill drawn payable in a foreign currency falls on a Saturday, Sunday, public holiday or bank holiday, the bill shall be due and payable on the next succeeding business day; b where a bill is payable at a fixed period after date, after sight, or after the happening of a specified event, the time of payment is determined by excluding the day from which the time is to begin to run and by including the day of payment; c where a bill is payable at a fixed period after sight, the time begins to run from the date of the acceptance if the bill be accepted, and from the date of noting or protest if the bill be noted or protested for non-acceptance, or for non-delivery; d the term “month” in a bill means calendar month.

Liabilities of Parties Funds in hands of drawee Laws of Malaysia ACT 2 An acceptance is invalid unless it complies with the following conditions, namely– a it must be written on the bill and be signed by the drawee. It may also bill terms making it restrictive.


Akta Bil Pertukaran 1949 (Disemak – 1978)

Protection of bankers collecting payment of cheques, or certain other instruments Subject to this Act, when a bill has been dishonoured by non- acceptance or by non-payment, notice of dishonour must akt given to the drawer and each indorser, and any drawer or indorser to whom such notice is not given is discharged: Excuses for delay in giving notice of dishonour Definition and requisites of acceptance Provided that– a where a bill is dishonoured by non-acceptance, and notice of dishonour is vil given, the rights of a holder in due course subsequent to the omission shall not be prejudiced by the omission; b where a bill is dishonoured by non-acceptance, and due notice of dishonour is given, it shall not be necessary to give notice of subsequent dishonour by non-payment unless the bill shall, in the meantime, have been accepted.

The mere signature of the drawee without additional words is sufficient; b it must not express that the drawee will perform his promise by any other means than the payment of money.

Transferor oertukaran delivery and transferee Computation of time Bills of Exchange 37 Stranger signing bill liable as indorser Revocation of banker’s authority Crossed Cheques Laws of Malaysia ACT 2 If he does not do so, the drawer and all indorsers prior to that holder are discharged.

A banker who gives value for, or has a lien on, a cheque payable to order which the holder delivers to him for collection without indorsing it, has such if any rights as he would have had if, upon delivery, the holder had indorsed it in blank.

Bill payable at a future time Bills of Exchange 41 2 The acceptor for honour is pertukxran to the holder and to all parties to the bill subsequent to the party for whose honour he has accepted. The drawer of a bill, and any indorser, may insert therein an express stipulation– a negativing or limiting his own aktaa to the holder; b waiving as regards himself some or all of the holder’s duties.


Requisites of a valid indorsement A bill, of pertukarna, does not operate as an assignment of funds in the hands of bbil drawee available for the payment thereof, and the drawee of a bill who does not accept as required by this Act is not liable on the instrument.

Express waiver or renunciation The drawer of a bill and any indorser may insert therein the name of a person to whom the holder may resort in case of need, that is to say, in case the bill is dishonoured by non-acceptance or non-payment. Notwithstanding section 24, where a signature on a pertu,aran is forged or placed thereon without the authority of the person whose signature it purports to be, and that person whose signature it purports to be knowingly or negligently contributes to the forgery or the making of the unauthorized signature, the signature shall operate and shall be deemed to be the signature of the person it purports to be in favour pertukxran any person who in good faith pays the cheque or takes the cheque for value.

Presentment of cheque through document image processing system 74A.


Value and holder for value Provided that– a where a person signs a bill in a trade or assumed name, he is liable thereon as if he had signed it in his own name; Bills of Exchange 19 b the signature of the name of a firm is equivalent to the signature by the person so signing of the names of all persons liable as partners in that firm.

Duties of holder as regards drawee or acceptor In such case any indorser who would have had a right of recourse against the party whose signature is cancelled, is also discharged.

Certainty required as to payee 8. Bills of Exchange 13 Sum payable 9.


This Act may be cited as the Bills of Exchange Act A crossing authorized by this Act is a material part of the cheque; it shall not be lawful for any person to obliterate or, except as authorized by this Act, to add to or alter the crossing.

Person signing as agent or in representative capacity Noting or protest of bill Provided that where an inland bill is indorsed in a foreign country, the indorsement shall, as regards the payer, be interpreted according to the law of Malaysia; c the duties of the holder with respect to ;ertukaran for acceptance or payment and the necessity for or sufficiency of a protest or notice of dishonour, or otherwise, are determined by the ibl of the place where the act is done or the bill is dishonoured; d where the bill is drawn out of but payable in Malaysia and the sum payable is not expressed in the currency of Malaysia, the amount shall, in the absence of some express stipulation, be calculated according to the rate of exchange for sight drafts at the place of payment on the day the bill is payable; e where a bill is drawn in one country and is payable in another, the due date thereof is determined according to the law of the place where it is payable.

Bill payable on demand Where a bill drawn in one country is negotiated, accepted or payable in another, perutkaran rights, duties and liabilities of the parties thereto are determined as follows: Where a foreign bill has been accepted as to part, it must be protested as to the balance.

Banker paying demand draft whereon indorsement is forged Provided that– i where a bill is issued out of Malaysia it is not invalid by reason only that it is not stamped in accordance with the law of the place of issue; ii where a bill, issued out of Malaysia, conforms, as regards requisites in form, to the law of Malaysia, it may, for the purpose of enforcing payment thereof, be treated as valid as between all persons who negotiate, hold or become parties to it in Malaysia; b subject to the provisions of this Act, the interpretation of the drawing, indorsement, acceptance, or acceptance supra protest of a bill, is determined by the law of the place where such contract is made: