6.
"Cheque".- A "cheque" is a bill of exchange drawn
on a specified banker and not expressed to be payable otherwise
than on demand and it includes the electronic image of a truncated
cheque and a cheque in the electronic form.
Explanation I.- For the
purposes of this section, the expressions-
(a) "a cheque in the electronic form" means
a cheque which contains the exact mirror image of a paper
cheque, and is generated, written and signed in a secure system
ensuring the minimum safety standards with the use of digital
signature (with or without biometrics signature) and asymmetric
crypto system;
(b) "a truncated cheque" means a cheque
which is truncated during the course of a clearing cycle,
either by the clearing house or by the bank whether paying
or receiving payment, immediately on generation of an electronic
image for transmission, substitu ing the further physical
movement of the cheque in writing.
Explanation II.- For the
purposes of this section, the expression "clearing house"
means the clearing house managed by the Reserve Bank of India
or a clearing house recognised as such by the Reserve Bank
of India.'.
[Section 6 subsituted Vide Negotiable
Instruments (Amendment and Miscellaneous Provisions) Act,
2002 ]
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