Bills of Exchange Act 1949 s 47

s 47 Dishonour by non-payment

(1) A bill is dishonoured by non-payment— (a) when it is duly presented for payment and payment is refused or cannot be obtained; or (b) when presentment is excused and the bill is overdue and unpaid. (2) Subject to this Act, when a bill is dishonoured by nonpayment, an immediate right of recourse against the drawer and indorsers accrues to the holder.

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Find Act 204 on lom.agc.gov.my ↗

Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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