67Drawee institution to pay or dishonour promptly

#### 67 Drawee institution to pay or dishonour promptly (1) Where a cheque is duly presented for payment, the drawee institution shall either pay or dishonour the cheque as soon as is reasonably practicable and, if the drawee institution fails to do so, then, unless it has become aware of a defect in the holder’s title or that the holder has no title to the cheque, the drawee institution: (a) may not dishonour the cheque; and (b) is liable to pay the cheque to the holder. (2) In determining, for the purposes of subsection (1), whether the drawee institution failed to pay or dishonour the cheque as soon as was reasonably practicable, regard shall be had to: (a) the fact that the instrument is a cheque and that it is reasonable to expect a cheque that has been duly presented for payment to be either paid or dishonoured promptly; (b) the means by which, and the place at which, the cheque was presented; (c) the means that were available to it for paying or dishonouring the cheque; (d) the relative speed, reliability and cost of those means; (e) the usage of financial institutions in relation to the payment and dishonour of cheques; (f) in a case where a request under subsection 62(5) or 62A(2) was made by it in relation to the cheque—the following matters, namely: (i) the making of the request; (ii) the nature of the request; (iii) the time within which the request was made; (iv) the means by which the request was made; (v) the means that were available to it for making the request; (vi) the relative speed, reliability and cost of those means; (vii) whether or not the request was complied with; (viii) if the request was complied with—the time within which the request was complied with; (ix) if the request was a request to furnish further particulars and the request was complied with—the nature of the particulars furnished to it; (x) the usage of financial institutions in relation to the making of requests under subsection 62(5) or 62A(2); and (g) any other facts of the particular case, including: (i) the nature of the cheque; and (ii) whether any delay in paying or dishonouring the cheque was: (A) caused by circumstances beyond the control of the drawee institution; and (B) not imputable to default, misconduct or negligence on the part of the drawee institution. (3) Subsection (1) does not prejudice any rights that the drawee institution may have to debit the drawer’s account with the amount of the cheque.