SECTION 1. Section six hundred and twelve of Act Numbered Twenty-seven hundred and eleven, known as the Administrative Code, is hereby amended to read as follows:
"SEC. 612. Checks receivable as money.-An officer charged with the collection of revenue or the receiving of moneys payable to the Government for taxes or dues, may accept payment in the form of checks drawn on any bank established in the Philippine Islands, and when so received, such checks may be deposited by the collecting officer as money. In case any check received as herein provided is not accepted by the bank for any reason, the person who issued it shall continue to be luable for the sum due and all penalties resulting from delayed payment.
"The receiving of checks as aforesaid shall cease as to any bank which shall refuse, upon demand, to receive for deposit or to cash any such check, without exchange, discount, or commission of any kind, at any point in the Islands where the bank may be established or may maintain an agency or branch."