Document ID: chunk:federal_register_of_legislation:C2017C00074:section:96
Version: federal_register_of_legislation:C2017C00074
Segment Type: section
Provision Reference: s 96
Character Range: 96070–96727

96  Rights of institution collecting order cheque not indorsed by payee
  Where:
 (a) the payee of a cheque payable to order, without indorsing the cheque, lodges the cheque with a financial institution (the collecting institution) for collection for the payee; and
 (b) the collecting institution gives value for, or has a lien on, the cheque;
the collecting institution has such rights (if any) as it would have had if, before the lodgment of the cheque with it, the payee had indorsed the cheque in blank.

Part VII—Special provisions relating to FCA institutions and agency cheques

Division 1—Presentment and collection of cheques by FCA institutions