10. Amendment of section 74 of the principal enactment

Section 74 of the principal enactment is hereby amended by the addition immediately after subsection (3) of that section, of the following new subsections: -

“(4) (a) A banker may, instead of presenting the cheque itself for payment, present a cheque by facsimile transmission or other electronic means for payment to the banker on whom it is drawn, by transmitting an image thereof along with the stipulated electronic payment information of the cheque.

For the purposes of this subsection –

the image of a cheque shall comprise the front view and the back view of the cheque; and

the electronic payment information of a cheque shall comprise –

the serial number of the cheque;

the code which identifies the banker and the branch on whom the cheque is drawn;

the account number of the drawer of the cheque;

the amount for which the cheque is drawn, as entered by the drawer of the cheque;

any other matter as may from time to time be prescribed by regulation made under any written law relating to payment, clearing and settlement systems.

The provisions of subsection (4) of section 52

to the presentment of a cheque for payment under subsection (4); and

to a cheque which is paid following presentment under subsection (4).

Where a cheque is presented for payment by a banker under subsection (4), the provisions of section 45 shall not be construed as being applicable and requiring the presentment to be made at the proper place or at a reasonable hour on a business day.

For the purpose of this section, where the image of a cheque, or one or more of its electronic payment information presented is inaccurate, such presentation shall be a nullity.”.