Section 70A: Legal recognition of electronic bills of exchange

70A. Legal recognition of electronic bills of exchange (1) An electronic bill of exchange shall not be denied legal effect, validity or enforceability on the sole ground that it is in electronic form. (2) (a) No person shall, without his consent, be required to use an electronic bill of exchange. (b) The consent of a person to use an electronic bill of exchange may be inferred from the conduct of that person. (3) Where an enactment requires that information be in writing, that requirement shall be met with respect to an electronic bill of exchange if the information contained therein is accessible so as to be usable for subsequent reference. (4) A bill of exchange may be issued, accepted, indorsed, transferred or discharged in electronic form, provided that – (a) it is created, managed and transferred using a reliable system; (b) it is signed using a secure electronic signature or a digital signature; and (c) a reliable method is used to indicate the date, time or place, as applicable, of the electronic bills of exchange.