Singapore legislation

Section 82

of Bills of Exchange Act 1949

Section 82

Non-transferable cheques

(1)

Where a cheque is crossed 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, but shall only be valid as between the parties thereto.

(2)

For the purposes of section 80, a banker is not to be treated as having been negligent by reason only of his failure to concern himself with any purported indorsement of a cheque which under subsection (1) or otherwise is not transferable.

Read in full context — Bills of Exchange Act 1949 →