Electronic Transactions Act 2010 · 2020 Revised Edition · Part 2A · Electronic Transferable Records
16N. Change of medium from electronic transferable record to transferable document or instrument
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A transferable document or instrument may replace an electronic transferable record if a reliable method for the change of medium in accordance with this section is used.
transferable document or instrument
“transferable document or instrument” means a document or an instrument issued on paper that entitles the holder to claim the performance of the obligation indicated in the document or instrument and to transfer the right to performance of the obligation indicated in the document or instrument through the transfer of that document or instrument, and includes —(a)a bill of exchange;(b)a promissory note; and(c)a bill of lading.
For the change of medium mentioned in subsection (1) to take effect, the following requirements must be satisfied:
all the information contained in the electronic transferable record must be accurately reproduced in the transferable document or instrument that replaces the electronic transferable record;
a statement indicating a change of medium must be inserted in the transferable document or instrument that replaces the electronic transferable record.
For the purposes of subsection (2)(a), the information in the electronic transferable record that must be accurately reproduced in the transferable document or instrument that replaces the electronic transferable record does not include any additional information that may be contained in an electronic transferable record mentioned in section 16C.
information
“information” includes data, text, images, sound, codes, computer programs, software and databases;
Upon the issuance of the transferable document or instrument in accordance with subsections (1) and (2), the electronic transferable record —
electronic transferable record
“electronic transferable record” has the meaning given by section 16A;
ceases to have any effect or validity; and
must be made inoperative.
A change of medium in accordance with subsections (1) and (2) does not affect the rights and obligations of the parties.