Document ID: chunk:federal_register_of_legislation:C2004A00333:clause:2_21
Version: federal_register_of_legislation:C2004A00333
Segment Type: clause
Provision Reference: sch 2 cl 21
Character Range: 29064–29584

21  After subsection 68(2)
Insert:

 (2A) If:
 (a) an agency cheque is duly presented for payment by a financial institution (the collecting institution); and
 (b) the drawee institution pays the cheque;
the FIC institution or FCA institution that is the drawer of the cheque (disregarding the effect of subsection 100(2)) has, as against the drawee institution, the collecting institution and any institution on whose behalf the collecting institution duly presented the cheque, the right to possession of the cheque.