Bills of Exchange (Amendment) Bill

Bill No. 28/1969

Read the first time on 23rd December 1969.
An Act to amend the Bills of Exchange Ordinance, 1949, of the Federation of Malaya (No. 75 of 1949).
Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —
Short title and commencement
1.  This Act may be cited as the Bills of Exchange (Amendment) Act, 1969, and shall come into operation on the day of     .
Amendment of section 2
2.  Section 2 of the Bills of Exchange Ordinance, 1949 (hereinafter in this Act referred to as “the Ordinance”) is hereby amended by inserting immediately after the definition of “note” appearing therein the following new definition: —
“ “Singapore bill” means a bill drawn payable in Singapore currency;”.
Amendment of section 14
3.  Section 14 of the Ordinance is hereby amended by deleting the proviso to paragraph (a) thereof and substituting therefor the following: —
Provided that —
(i)in the case of a Singapore bill or in the case of such other bills as the Minister may from time to time by notification in the Gazette prescribe for the purposes of this paragraph, when the last day of grace falls on a Sunday, public holiday or bank holiday; and
(ii)in the case of any other bill when the last day of grace falls on a Saturday, Sunday, public holiday or bank holiday,
the bill shall be due and payable on the next succeeding business day;”.
Repeal and re-enactment of section 92
4.  Section 92 of the Ordinance is hereby repealed and the following substituted therefor: —
Computation of time
92.—(1)  Where, by this Ordinance, the time limited for doing any act or thing is less than three days, in reckoning time non-business days shall be excluded.
(2)  “Non-business days” for the purpose of this Ordinance means —
(b)bank or public holidays; and
(c)in the case of bills other than Singapore bills or bills prescribed by the Minister under sub-paragraph (i) of the proviso to paragraph (a) of section 14 of this Act, Saturday.
(3)  Any other day is a business day.”.