Drafts on Bankers Act 1857 No 3a (NSW)

No. VII.

An Act to amend the Laws relat ing to Drafts

on Bankers. [17 th January, 1857.]

WH E R E A S doubts have arisen as to t he obligations of Bankers conduce to t h e ease of commerce t h e securi ty of p roper ty and the pre­wi th respect to cross-wri t ten Drafts A n d whereas it would

vent ion of c r ime if drawers or holders of Drafts on Bankers payable to bearer or order on demand were enabled effectually to direct t he p a y m e n t of t he same to be made only to or t h r o u g h some B a n k e r Be it therefore enacted by the Queen ' s Most Excel lent Majesty by and wi th t he advice and consent of t h e Legislat ive Council and Legislat ive Assembly of N e w South W a l e s and by t h e au thor i ty of t he same as fo l lows:—

1. I n every case where a Draf t on any B a n k e r made payable

to bearer or order on demand bears across i ts face an addi t ion in wr i t t en or s tamped le t te rs of t he n a m e of any B a n k e r or of t he word " B a n k " in full or abbreviated ei ther of such addi t ions shall have t h e force of a direction to t h e B a n k e r u p o n w h o m such Draf t is made tha t

t h e same is to be paid only to or t h r o u g h some Banke r and the	same
shall be payable only to or t h r o u g h some Banker .

2. I n t he const ruct ion of th i s Ac t t he word " Banke r " shall

inc lude any person or persons or corporat ion or jo in t stock or other

company ac t ing as a B a n k e r or Banker s .

4 D — V O L . 4. No. V I I I .