Section 70B: Validity of electronic bill of exchange

70B. Validity of electronic bill of exchange Where an enactment requires a bill of exchange, that requirement shall be met by an electronic bill of exchange if – (a) the electronic record of the electronic bill of exchange contains the information that would be required to be contained in a paper bill of exchange; and (b) a reliable method is used to – (i) identify the electronic record of the electronic bill of exchange; (ii) render that electronic record of the bill of exchange capable of being subject to control from its creation until it ceases to have any effect or validity; and (iii) retain the integrity of the electronic record of the bill of exchange, by ensuring that the information contained in the electronic bill of exchange, including any authorised change that arises from its creation until it creases to have any effect or validity, has remained complete and unaltered apart from any change which arises in the normal course of communication, storage and display.