Presentment of cheques

(1) A bank may present a cheque for payment to the bank on whom it is drawn by notifying that bank of the essential features of the cheque by– (a) the physical cheque; (b) the electronic image; or (c) the data. (2) For the purposes of this section, the essential features of a cheque are– (a) the serial number of the cheque; 46 (b) the code which identifies the bank on whom the cheque is drawn; (c) the account number of the drawer of the (d) the amount of the cheque as entered by the drawer of the cheque; and (e) any other feature which the Central Bank prescribes from time to time. (3) Notwithstanding sub-sections (1) and (2), the Central Bank shall determine and indicate in guidelines the form in which a cheque is to be presented for the purpose of a clearing house.