Clause 15

No person shall draw, accept, make or issue any bill of exchange, promissory note or engagement for the payment of money payable to bearer on demand or borrow, owe or take up any sum or sums of money of bills or notes payable to bearer on demand.

Cheques or drafts payable to bearer on demand may be drawn on bankers or agents by their customers or constituents in respect of moneys in the hands of these bankers or agents held by them at the disposal of the person drawing such cheques or drafts.

Any person who contravenes the provisions of this section shall, notwithstanding anything to the contrary in the Criminal Procedure Code (Cap. 132), on conviction by a Magistrate’s Court be liable to a fine equal to the amount of the bill, note or engagement in respect whereof the offence is committed notwithstanding that the amount of such fine may be in excess of the original jurisdiction of such Court.

No prosecution under this section shall be instituted without the sanction of the Public Prosecutor.