### Bills of Exchange Ordinance 《匯票條例》

45. Rules as to presentment for payment
Subject to the provisions of this Ordinance, a bill must be duly presented for payment. If it is not so presented, the drawer and indorsers shall be discharged. A bill is duly presented for payment which is presented in accordance with the following rules—
(a) where the bill is not payable on demand, presentment must be made on the day it falls due;
(b) where the bill is payable on demand, then, subject to the provisions of this Ordinance, presentment must be made within a reasonable time after its issue in order to render the drawer liable, and within a reasonable time after its indorsement, in order to render the indorser liable. In determining what is a reasonable time, regard shall be had to the nature of the bill, the usage of trade with respect to similar bills, and the facts of the particular case;
(c) presentment must be made by the holder, or by some person authorized to receive payment on his behalf, at a reasonable hour on a business day, at the proper place as hereinafter defined, either to the person designated by the bill as payer or to some person authorized to pay or refuse payment on his behalf, if, with the exercise of reasonable diligence, such person can there be found; 
(d) a bill is presented at the proper place—
(i) where a place of payment is specified in the bill and the bill is there presented;
(ii) where no place of payment is specified, but the address of the drawee or acceptor is given in the bill, and the bill is there presented;
(iii) where no place of payment is specified and no address given, and the bill is presented at the drawee’s or acceptor’s place of business, if known, and, if not, at his ordinary residence, if known;
(iv) in any other case, if presented to the drawee or acceptor wherever he can be found, or if presented at his last-known place of business or residence;
(e) where a bill is presented at the proper place, and, after the exercise of reasonable diligence, no person authorized to pay or refuse payment can be found there, no further presentment to the drawee or acceptor is required;
(f) where a bill is drawn upon or accepted by two or more persons who are not partners, and no place of payment is specified, presentment must be made to them all;
(g) where the drawee or acceptor of a bill is dead, and no place of payment is specified, presentment must be made to a personal representative, if such there be, and, with the exercise of reasonable diligence, he can be found;
(h) where authorized by agreement or usage, a presentment through the Post Office is sufficient.
[cf. 1882 c. 61 s. 45 U.K.]

### Bills of Exchange Ordinance 《匯票條例》

46. Excuses for delay or non-presentment for payment
(1) Delay in making presentment for payment is excused when 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 with reasonable diligence.
(2) Presentment for payment is dispensed with—
(a) where, after the exercise of reasonable diligence, presentment, as required by this Ordinance, cannot be effected. The fact that the holder has reason to believe that the bill will, on presentment, be dishonoured does not dispense with the necessity for presentment;
(b) where the drawee is a fictitious person;
(c) as regards the drawer, where the drawee or acceptor is not bound, as between himself and the drawer, to accept or pay the bill, and the drawer has no reason to believe that the bill would be paid, if presented;
(d) as regards an indorser, where the bill was accepted or made for the accommodation of that indorser, and he has no reason to expect that the bill would be paid, if presented;
(e) by waiver of presentment, express or implied.
[cf. 1882 c. 61 s. 46 U.K.]

47. Dishonour by non-payment
(1) A bill is dishonoured by non-payment—
(a) when it is duly presented for payment and payment is refused or cannot be obtained; or
(b) when presentment is excused and the bill is overdue and unpaid.
(2) Subject to the provisions of this Ordinance, when a bill is dishonoured by non-payment, an immediate right of recourse against the drawer and indorsers accrues to the holder.
[cf. 1882 c. 61 s. 47 U.K.]

48. Notice of dishonour and effect of non-notice
Subject to the provisions of this Ordinance, when a bill has been dishonoured by non-acceptance or by non-payment, notice of dishonour must be given to the drawer and each indorser, and any drawer or indorser to whom such notice is not given is discharged:
Provided that—
(a) where a bill is dishonoured by non-acceptance and notice of dishonour is not given, the rights of a holder in due course subsequent to the omission shall not be prejudiced by the omission;
(b) where a bill is dishonoured by non-acceptance and due notice of dishonour is given, it shall not be necessary to give notice of a subsequent dishonour by non-payment, unless the bill has in the meantime been accepted.
[cf. 1882 c. 61 s. 48 U.K.]

### Bills of Exchange Ordinance 《匯票條例》

50. Excuses for non-notice and delay
(1) Delay in giving notice of dishonour is excused where the delay is caused by circumstances beyond the control of the party giving notice, and not imputable to his default, misconduct, or negligence. When the cause of delay ceases to operate, the notice must be given with reasonable diligence.
(2) Notice of dishonour is dispensed with—
(a) where, after the exercise of reasonable diligence, notice, as required by this Ordinance, cannot be given to or does not reach the drawer or indorser sought to be charged;
(b) by waiver, express or implied. Notice of dishonour may be waived before the time of giving notice has arrived or after the omission to give due notice;
(c) as regards the drawer, in the following cases, namely—
(i) where drawer and drawee are the same person;
(ii) where the drawee is a fictitious person or a person not having capacity to contract;
(iii) where the drawer is the person to whom the bill is presented for payment;
(iv) where the drawee or acceptor is, as between himself and the drawer, under no obligation to accept or pay the bill;
(v) where the drawer has countermanded payment;
(d) as regards the indorser, in the following cases, namely—
(i) where the drawee is a fictitious person or a person not having capacity to contract, and the indorser was aware of the fact at the time he indorsed the bill;
(ii) where the indorser is the person to whom the bill is presented for payment;
(iii) where the bill was accepted or made for his accommodation.
[cf. 1882 c. 61 s. 50 U.K.]