An Act to amend the law governing financial institutions and to provide for related and consequential matters (S.C. 2007, c. 6)

Assented to 2007-03-29

R.S., c. B-4Bills of Exchange Act

 The Bills of Exchange Act is amended by adding the following after section 163:

Official Images and Electronic Presentment

Marginal note:Definitions

163.1 The following definitions apply in this section and sections 163.2 to 163.6.

“bank”

« banque »

“bank” has the same meaning as in section 164.

“eligible bill”

« lettre admissible »

“eligible bill” means a bill that is of a class specified by a by-law, a rule or a standard made under the Canadian Payments Act.

“official image”

« image officielle »

“official image”, in respect of an eligible bill, means an image of that eligible bill created by or on behalf of a bank in accordance with by-laws, rules or standards made under the Canadian Payments Act, together with any data in relation to the eligible bill prepared in accordance with those by-laws, rules and standards, and includes a display, a printout, a copy or any other output of that image and that data created by or on behalf of a bank in accordance with those by-laws, rules and standards.

Marginal note:Status of official image

163.2 An official image of an eligible bill may be dealt with and used for all purposes as though it were the eligible bill.

Marginal note:Electronic presentment
  • 163.3 (1) Despite anything in this Act, a bank may present for payment an official image of an eligible bill electronically in accordance with by-laws, rules or standards made under the Canadian Payments Act and, if it does so, the requirements of this Act respecting the presentment for payment of the eligible bill are deemed to have been complied with.

  • Marginal note:Discharge by payment

    (2) The eligible bill and its official image are discharged if payment in due course is made by or on behalf of the drawee after the electronic presentment for payment of the official image of the eligible bill.

Marginal note:Presumption
  • 163.4 (1) In the absence of evidence to the contrary, a document purporting to be an official image of an eligible bill is presumed to be an official image of the eligible bill.

  • Marginal note:Admissibility

    (2) An official image of an eligible bill is admissible in evidence for all purposes for which the eligible bill would be admitted as evidence without proof that the official image was created by or on behalf of a bank in accordance with the by-laws, rules or standards made under the Canadian Payments Act.

  • Marginal note:True copy of contents

    (3) In the absence of evidence to the contrary, an official image of an eligible bill is presumed to be a true and exact copy of the contents of the eligible bill.

Marginal note:Effect of destruction

163.5 If an eligible bill is destroyed in accordance with by-laws, rules or standards made under the Canadian Payments Act and there is an official image of the bill,

  • (a) a person’s rights and powers in relation to the eligible bill are not affected by reason only that the person does not possess it;

  • (b) the destruction does not affect any person’s rights, powers, duties and liabilities in relation to the eligible bill; and

  • (c) the eligible bill is not considered to be lost or to have been materially altered or intentionally cancelled.

Marginal note:Warranty
  • 163.6 (1) A bank that creates or purports to create an official image of an eligible bill, or on whose behalf an official image of an eligible bill is created or purported to be created, warrants that the official image or the purported official image, as the case may be, was created in accordance with by-laws, rules or standards made under the Canadian Payments Act and that it accurately represents the eligible bill.

  • Marginal note:Damages

    (2) Any person who has suffered damages as a result of a breach of the warranty has a cause of action for damages against the bank.