Law applicable to crossed warrants
This section has no associated Explanatory Memorandum
58. Section 76(1), (3), (4) and (5) (so far as it relates to crossed cheques) and sections 77(6) and 78 to 81 of the Bills of Exchange Act 1882(1) (which relate to crossed cheques), and sections 3 and 4 of the Cheques Act 1957(2) (which relate to unendorsed cheques as evidence of payment and to the protection of collecting bankers), apply to a crossed warrant issued under these Regulations as if it were a cheque drawn on the Director of Savings by the officer issuing the crossed warrant, but nothing in these Regulations makes a crossed warrant negotiable.
(1)
1882 c. 61; section 80 was amended by the Cheques Act 1992 (c. 32), section 2.
(2)