BILLS OF EXCHANGE ORDINANCE - minor amendment

BILLS OF EXCHANGE ORDINANCE - minor amendment

CHAPTER 19

BILLS OF EXCHANGE

The Bills of Exchange Ordinance is amended-

(1) in section 14 by repealing paragraph (a) and substituting

(a)the bill is due and payable in all cases on the last day of
the time of payment as fixed by the bill or, if that is a
general holiday, on the succeeding business day;
(Replaced 67 of 1972 s. 2)

(2)in section 20(1) by repealing 'stamped' and 'the stamp will cover';

(3)in section 26(1) by adding 'subject to section 26A,' after 'but' ;

(4) by adding after section 26-

26A. (1) A person who makes, accepts or indorses a bill
for, in the name of, on behalf of or on account of a company
shall not be liable in respect of that making, acceptance or
indorsement where, on a proper construction of the bill as a
whole, that making, acceptance or indorsement is a making,
acceptance or indorsement of that company.

(2) In subsection (1), 'company' has the meaning
assigned to it by section 2(1) of the Companies Ordinance and
includes a company to which Part XI of that Ordinance
applies.

(3) This section shall apply to the making, acceptance or
indorsement of a bill after the commencement* of the Bills of
Exchange (Amendment) Ordinance 1983.

(Added 16 of 1983 s. 3)

(5)in section 102(3)(a) by repealing 'any Stamp Ordinance' and
substituting 'the Stamp Duty Ordinance'.
67 of 1972 s. 2. 1971 c. 80 s. 3(2) 31 of 1981 s. 65 16 of 1983 s. 2. Corporate signatures (Cap. 32) (16 of 1983) [*29.4.83] 31 of 1981 s. 65 (Cap. 117)

67 of 1972 s. 2. 1971 c. 80 s. 3(2) 31 of 1981 s. 65 16 of 1983 s. 2. Corporate signatures (Cap. 32) (16 of 1983) [*29.4.83] 31 of 1981 s. 65 (Cap. 117)

https://oelawhk.lib.hku.hk/items/show/3645

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