14. Replacement of section 81 of the principal enactment

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Section 81 of the principal enactment is hereby repealed and the following section is substituted therefor: -

81. (1) Where a person takes a crossed cheque which bears on it the words “not negotiable”, he shall not have and shall not be capable of giving a better title to the cheque than that which the person from whom he took it had.

(2)

Where a cheque is crossed or uncrossed and bears across its face the words “Account

Payee” or “A/C Payee” either with or without the word “Only”, the cheque shall not be transferable, and shall only be valid as between the parties thereto.”.

Read on from s 15