Section 72: Presentment of cheque for payment

72. Presentment of cheque for payment Subject to this Act— (a) the time within which a cheque is to be presented for payment shall be 3 days from the day of issue, exclusive of the day of issue and of any bank or public holiday; (b) where a cheque is not presented for payment within the time of its issue as fixed under paragraph (a), and the drawer or the person on whose account it is drawn had the right at the time of the presentment as between him and the banker to have the cheque paid and suffers actual damage through the delay, he is discharged to the extent of the damage, that is to say, to the extent to which the drawer or person is the creditor of the banker to a larger amount than he would have been had the cheque been paid; B7 – 27 [Issue 1] Bills of Exchange Act (c) the holder of the cheque as to which the drawer or person is discharged shall be a creditor, in lieu of the drawer or person, of the banker to the extent of the discharge, and entitled to recover the amount from him.