Section 4:

4. Payable orders deemed to be cheques (1) (a) Subject to this Act and to paragraph (b), the Bills of Exchange Act relating to cheques shall apply to a payable order as if— (i) the authorised officer were the drawer; (ii) the paying agent were the drawee; and (iii) the person to whom payment is authorised were the payee. (b) No indorsement of a payable order shall be valid unless the signature purporting to be that of the person to whom or to whose order the payable order is payable is written on the back of the payable order. (2) (a) A payable order shall, for the purposes of the Stamps Act, be deemed to be a cheque. (b) The acquittance purporting to have been given on the back of a payable order by the person to whom or to whose order payment is authorised under the Stamps Act or that of the indorsee or last indorsee, shall be deemed to be a receipt under that Act. [S. 4 amended by s. 12 (a) of Act 20 of 2002 w.e.f. 30 May 2003.]