Act 025 of 1920 : Negotiable Instruments (Amendment) Act, 1920

Preamble

Negotiable Instruments (Amendment) Act, 19201

[Act No. 25 of 1920][31st August, 1920]
[Repealed by Act 1 of 1938, S. 2 and Sch.][31st August, 1920]

Passed by the Indian Legislative Council.

An Act further to amend the Negotiable Instruments Act, 1881.

Whereas it is expedient further to amend the Negotiable Instruments Act, 1881 (26 of 1881); It is hereby enacted as follows:-

1 Received the assent of the Governor General on the 31st August, 1920.

Section 1. Short title

1. Short title.- This Act may be called the Negotiable Instruments (Amendment) Act, 1920.

Section 2. Insertion of new section 75A in Act XXVI of 1881

2. Insertion of new section 75A in Act XXVI of 1881.- After section 75 of the Negotiable Instruments Act, 1881 (XXVI of 1881), the following section shall be inserted, namely:-

"75A. Excuse for delay in presentment for payment.- Delay in presentment for payment is excused if the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct or negligence. When the cause of delay ceases to operate, presentment must be made within a reasonable time."