Section 2

In this Act, unless the context otherwise requires —“acceptance” means an acceptance completed by delivery or notification;“Authority” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act 1970;“bank holiday” and “public holiday” respectively include any day declared to be such under any written law for the time being in force and includes any day (other than a Sunday) observed as a weekly holiday;“banker” includes a body of persons, whether incorporated or not, who carry on the business of banking;“bankrupt” includes any person whose estate is vested in a trustee or assignee under the law for the time being in force relating to bankruptcy;“bearer” means the person in possession of a bill or note which is payable to bearer;“bill” means bill of exchange;“delivery” means transfer of possession, actual or constructive, from one person to another;“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;“indorsement” means an indorsement completed by delivery;“issue” means the first delivery of a bill or note, complete in form, to a person who takes it as a holder;“note” means promissory note;“Singapore bill” means a bill drawn payable in Singapore currency;“suit” includes action, counterclaim and set-off;“value” means valuable consideration.