Bills of Exchange Act · 2023 Revised Edition · Part 2
63. Cancellation
Official textFrom Attorney General's Chambers, unchanged
Where a bill is intentionally cancelled by the holder or his agent, and the cancellation is apparent thereon, the bill is discharged.
In like manner, any party liable on a bill may be discharged by the intentional cancellation of his signature by the holder or his agent. In such case, any indorser who would have had a right of recourse against the party whose signature is cancelled is also discharged.
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
A cancellation made unintentionally, or under a mistake, or without the authority of the holder, is inoperative; but where a bill or any signature thereon appears to have been cancelled, the burden of proof lies on the party who alleges that the cancellation was made unintentionally, under a mistake or without authority.
Authority
“Authority” means the Brunei Darussalam Central Bank established under section 3(1) of the Brunei Darussalam Central Bank Order, 2010;
Bills of Exchange 40
Terms defined in s 2
Authority
Defined · s 2“Authority” means the Brunei Darussalam Central Bank established under section 3(1) of the Brunei Darussalam Central Bank Order, 2010;
holder
Defined · s 2“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
Part
Cheques on Banker
Part
Promissory Notes
Part