25.
| (1) Any person who"
| | (a) draws, a cheque knowing that there are no funds or not sufficient funds in the bank to honour such cheque ; or | | |
| | (b) makes an order to a banker to pay a sum of money which payment is not made by reason of there being no obligation on such banker to make payment or by reason of the payment having been countermanded; or | | |
| | (c) gives an authority to an institution to pay a sum of money to itself, in payment of a debt or loan or any part thereof owed to such institution, from, and out of an account maintained or funds deposited, by such person with such institution and such institution is unable to make such payment to itself by reason of such person not placing adequate funds in such account or by reason of the funds deposited having been withdrawn by reason of such person countermanding the authority given or by reason of any one or more of such reasons ; or | | |
| | (d) having accepted on inland bill dishonours it by non - payment, shall re guilty of an offence under this Act and shall on conviction by a Magistrate alter summary trial be liable to punishment with imprisonment of either description for a term which may extend to one year or with fine of ten thousand rupees or ten per centum of the full value of the cheque, order, authority or inland bill in respect of which the offence is committed, whichever is higher, or with both such fine and imprisonment, | | |
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| (2) The expressions 'cheque ', ' dishonoured", "banker", "Inland Bill" and "Bill" shall have the respective meanings assigned to them in the BILLS of Exchange Ordinance (Chapter 32), and the term "dishonest" shall have the same meaning as in section 22 of the Penal Coda (Chapter 19). |
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Sri Lanka Consolidated Acts