s 14 Bills and notes payable to bearer on demand
14.—(1) No person, except with the permission of the Authority, may —(a) draw, accept, make or issue any bill of exchange, promissory note or engagement for the payment of money payable to bearer on demand; or (b) borrow, owe or take up any sum or sums of money on bills or notes payable to bearer on demand. (2) Cheques or drafts payable to bearer on demand may be drawn on bankers or agents by their customers or constituents in respect of moneys in the hands of these bankers or agents held by them at the disposal of the persons drawing such cheques or drafts. (3) A person who contravenes this section shall, despite anything to the contrary in the Criminal Procedure Code 2010, be liable on conviction by a Magistrate’s Court to a fine equal to the amount of the bill, note or engagement in respect of which the offence is committed even if the amount of such fine may be in excess of the original jurisdiction of such Court.