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Bills of Exchange Act, 1964 (Act No. 34 of 1964)

Chapter I

Negotiation of bills

31. Indorsement in blank and special indorsement


(1) An indorsement in blank specifies no indorsee, and a bill so indorsed becomes payable to bearer.


(2) A special indorsement specifies the person to whom, or to whose order, the bill is to be payable.


(3) The provisions of this Act relating to a payee apply with the necessary modifications to an indorsee under a special indorsement.


(4) If a bill has been indorsed in blank, any holder may convert the blank indorsement into a special indorsement by writing above the indorser's signature a direction to pay the bill to himself or his order or to some other person or the order of the latter.