Document ID: chunk:federal_register_of_legislation:C2004A03387:body:0:p4
Version: federal_register_of_legislation:C2004A03387
Segment Type: other
Provision Reference: 
Character Range: 7069–9393

on which the security is provided, whichever last occurs;
    (b) in a case where the indorser requests the former holder, by notice under sub-section (9), to give the indorser an indemnity, but does not also request the former holder to provide security for the indemnity—within 14 days after the day on which the indemnity is given to the indorser; or
    (c) in any other case—within 14 days after the day on which the notice under sub-section (8) is given to the indorser,
indorse the replacement bill to the same tenor as the indorser's indorsement of the original bill and give the replacement bill so indorsed to the former holder.
"(11) Where the drawer, acceptor or indorser refuses or fails to comply with sub-section (4), (7) or (10), as the case requires, the former holder may apply to a court of competent jurisdiction for an order directing—
    (a) the drawer to draw a replacement bill to the same tenor as the original bill and give the replacement bill to the former holder;
    (b) the acceptor to accept the replacement bill to the same tenor as the acceptor's acceptance of the original bill and give the replacement bill so accepted to the former holder; or
    (c) the indorser to indorse the replacement bill to the same tenor as the indorser's indorsement of the original bill and give the replacement bill so indorsed to the former holder,
as the case may be.

"(12) Where an application is made to a court of competent jurisdiction for an order of a kind referred to in sub-section (11), the court may make the order on such terms and conditions as it considers just and equitable.".

Application of amendments
7. Notwithstanding the amendments of the Principal Act made by sections 4 and 5 of this Act and the repeal effected by section 6 of this Act, sections 14, 56 and 74 of the Principal Act continue to apply to bills of exchange, cheques and promisory notes drawn or made, as the case may be, before the commencement of this Act as if those amendments had not been made and that repeal had not been effected.

NOTE
  1. No. 27, 1909, as amended. For previous amendments, see No. 24, 1912; No. 61, 1932; No. 74, 1936; No. 10, 1958; No. 4, 1971; and No. 216, 1973.

[Minister's second reading speech made in—
     House of Representatives on 22 May 1985
     Senate on 18 September 1985]