23Conversion of cheque payable to bearer into cheque payable to order

#### 23 Conversion of cheque payable to bearer into cheque payable to order (2) Where the only, or the last, indorsement of a cheque requires the drawee institution to pay the sum ordered to be paid by the cheque to bearer, the holder may, using the signature of the indorser, convert the cheque into a cheque payable to order by adding to, or altering, the indorsement so that the cheque is expressed to require the drawee institution to pay the sum ordered to be paid by the cheque to or to the order of: (a) a person specified in the cheque as indorsee; or (b) 2 or more persons specified in the cheque, jointly or in the alternative, as indorsee.