Section 63: Acceptance for honour supra protest
consolidated text (as at 2011, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
63. Acceptance for honour supra protest
(1) (a) Where a bill of exchange has been protested for dishonour by
non-acceptance, or protested for better security, and is not overdue, any
person, not being a party already liable on it, may, with the consent of the
holder, intervene and accept the bill supra protest, for the honour of any
party liable, or for the honour of the person for whose account the bill is
drawn.
(b) An acceptance under paragraph (a) shall not prejudice the rights
of the holder against all the other parties liable on the bill.
(2) A bill may be accepted for honour for part only of the sum for which
it is drawn.
(3) An acceptance for honour supra protest in order to be valid shall—
(a) be written on the bill, and indicate that it is an acceptance for
honour;
(b) be signed by the acceptor for honour.
(4) Where an acceptance for honour does not expressly state for whose
honour it is made, it is deemed to be an acceptance for the honour of the
drawer.
(5) Where a bill payable after sight is accepted for honour, its maturity is
calculated from the date of the protest for non-acceptance, and not from the
date of the acceptance for honour.