BILLS OF EXCHANGE.

No. 74 of 1936.

An Act to amend the Bills of Exchange Act 1909–1932.

[Assented to 7th December, 1936.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows :—

Short title and citation

1.—(1.) This Act may be cited as the Bills of Exchange Act 1936.

(2.) The Bills of Exchange Act 1909-1932, as amended by this Act, may be cited as the Bills of Exchange Act 1909-1936.

2. After section seventy-seven of the Bills of Exchange Act 1909–1932 the following section is inserted :—

Effect of non-compliance with stamp laws in case of certain bills of exchange.

“77a. A bill issued in Australia which is presented for acceptance, accepted, or payable, outside Australia shall not be invalid by reason only that it is not stamped, or is not properly stamped, in accordance with any law for the time being in force requiring that bill to be stamped, and any such bill which is unstamped or is not properly stamped may be received in evidence on payment of the proper duty and penalty (if any).”.