Document ID: chunk:federal_register_of_legislation:C2004A03387:body:0:p2
Version: federal_register_of_legislation:C2004A03387
Segment Type: other
Provision Reference: 
Character Range: 2369–4915

otherwise lawfully in possession of, the original bill at the time of its loss or destruction may, by notice in writing given to the drawer of the original bill, request the drawer to give the former holder a replacement bill to the same tenor as the original bill.
"(2) The notice is not effective for the purposes of this section unless it contains sufficient particulars of the original bill to enable the drawer to—
    (a) identify the original bill with reasonable certainty; and
    (b) draw a replacement bill to the same tenor as the original bill.

"(3) The drawer may, by notice in writing given to the former holder within 14 days after the day on which the notice under sub-section (1) is given to the drawer, request the former holder to give the drawer an indemnity in respect of any loss and expenses that the drawer may reasonably incur by reason of the drawing of a replacement bill to the same tenor as the original bill, and may also request the former holder to provide adequate security for the indemnity.
"(4) The drawer shall—
    (a) in a case where the drawer requests the former holder, by notice under sub-section (3), to give the drawer an indemnity and also to provide security for the indemnity—within 14 days after the day on which the indemnity is given to the drawer or the day on which the security is provided, whichever last occurs;
    (b) in a case where the drawer requests the former holder, by notice under sub-section (3), to give the drawer 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 drawer; or
    (c) in any other case—within 14 days after the day on which the notice under sub-section (1) is given to the drawer,
draw a replacement bill to the same tenor as the original bill and give the replacement bill to the former holder.
"(5) Where the original bill had been accepted before its loss or destruction, the former holder may give the replacement bill to the acceptor and request the acceptor, by notice in writing, to accept the replacement bill to the same tenor as the acceptor's acceptance of the original bill.
"(6) The acceptor may, by notice in writing given to the former holder within 14 days after the day on which the notice under sub-section (5) is given to the acceptor, request the former holder to give the acceptor an indemnity in respect of any loss and expenses that the acceptor may reasonably incur by reason of the accepting of the bill to the same tenor