Document ID: chunk:federal_register_of_legislation:C2017C00074:section:47
Version: federal_register_of_legislation:C2017C00074
Segment Type: section
Provision Reference: s 47
Character Range: 37533–38351

47  Transfer by negotiation back to drawer or indorser
 (1) Where a cheque is transferred by negotiation back to the drawer, the drawer:
 (a) may strike out the indorsements (if any) of the cheque; and
 (b) may, whether or not the indorsements have been struck out, re‑issue the cheque, but is not entitled to enforce payment against any person to whom the drawer was previously liable.
 (2) Where a cheque is transferred by negotiation back to an indorser, the indorser:
 (a) may strike out the indorser's own indorsement and subsequent indorsements (if any); and
 (b) may, whether or not the indorser's own indorsement and subsequent indorsements have been struck out, further transfer the cheque by negotiation, but is not entitled to enforce payment against any person to whom the indorser was previously liable.