70BConsequences of cheque being taken to be dishonoured

#### 70B Consequences of cheque being taken to be dishonoured If a cheque that has been lodged with a financial institution (the collecting financial institution) for collection is taken to be dishonoured under section 70A (the deemed dishonour) then: (a) the deemed dishonour has the same consequences as if the cheque had been duly presented for payment and had been dishonoured in accordance with section 69; and (b) if the cheque has not been duly presented for payment, the requirement in section 66 to duly present the cheque for payment does not apply; and (c) if the collecting financial institution has made a provisional credit to an account in respect of the cheque, it may reverse that provisional credit; and (d) if the drawee institution has made a provisional debit to an account in respect of the cheque, the provisional debit is taken to be reversed, by force of this section, immediately after the deemed dishonour.