Deregulation (Bills of Exchange) Order 1996
| Jurisdiction | UK Non-devolved |
1996 No. 2993
DEREGULATION
The Deregulation (Bills of Exchange) Order 1996
Made 27th November 1996
Coming into force 28th November 1996
Whereas—
(a) the Treasury are of the opinion that certain provisions of the Bills of Exchange Act 18821and which are the subject of this Order impose burdens affecting persons in the carrying on of a trade, business, profession or otherwise and that by amending or repealing the provisions concerned and by making certain other provision it is possible to remove or reduce the burdens, without removing any necessary protection;
(b) the Treasury have consulted such organisations as appear to them to be representative of interests substantially affected by their proposals and such other persons as they considered appropriate;
(c) it appears to the Treasury that it is appropriate, following that consultation, to proceed with the making of this Order;
(d) a document setting out the Treasury’s proposals has been laid before Parliament as required by section 3 of the Deregulation and Contracting Out Act 19942and the period for Parliamentary consideration under section 4 of that Act has expired;
(e) the Treasury have had regard to the representations made during that period;
(f) a draft of this Order has been laid before Parliament with a statement giving details of such representations and the change to the Treasury’s proposals in the light of such representations; and
(g) a draft of this Order has been approved by resolution of each House of Parliament.
Now, therefore, the Treasury, in exercise of the power conferred on them by section 1 of the Deregulation and Contracting Out Act 1994, hereby make the following Order:
Citation and commencement
1.—(1) This Order may be cited as the Deregulation (Bills of Exchange) Order 1996.
(2) This Order shall come into force on the day after the day on which it is made.
Interpretation
2. In this Order “the 1882 Act” means the Bills of Exchange Act 1882.
Presentment of cheque for payment: alternative place of presentment
3. After section 74 of the 1882 Act there shall be inserted the following section—
“Presentment of cheque for payment: alternative place of presentment.
74A. Where the banker on whom a cheque is drawn—
(a) has by notice published in the London, Edinburgh and Belfast Gazettes specified an address at which cheques drawn on him may be presented, and
(b) has not by notice so published cancelled the specification of that address,
the cheque is also presented at the proper place if it is presented there.”.
Presentment of cheque for payment: alternative means of presentment by banker
4.—(1) After section 74A of the 1882 Act (as inserted by Article 3 of this Order) there shall be inserted the following sections—
“Presentment of cheque for payment: alternative means of presentment by banker
74B.—(1) A banker may...
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