Where a person takes a crossed cheque which bears on it the words “not negotiable,” he shall not have and shall not be capable of giving a better title to the cheque than that which the person from whom he took it had.Modifications etc. (not altering text)C19Ss. 78-81 applied (6.4.2015) by The National Savings (No. 2) Regulations 2015 (S.I. 2015/624), regs. 1(1), 96C20Ss. 78-81 applied (with modifications) (6.4.2015) by The National Savings Regulations 2015 (S.I. 2015/623), regs. 1(1), 58C26S. 81 extended by Cheques Act 1957 (c. 36, SIF 14), s. 5, S.I 1972/641, reg.7(2), 1972/764, reg. 21(5), 1972/765, reg. 8(2) and 1976/2012, reg.22(2)C27Ss. 78–81 extended by S.I. 1984/779, reg. 7(2)Ss. 78-81 extended by S.I. 1991/1031, reg. 7(2)Ss. 78-81 applied by S.I. 1991/1407, reg. 7(2)[81AF23Non-transferable cheques.(1)Where a cheque is crossed and bears across its face the words “account payee” or “a/c payee”, either with or without the word “only”, the cheque shall not be transferable, but shall only be valid as between the parties thereto.(2)A banker is not to be treated for the purposes of section 80 above as having been negligent by reason only of his failure to concern himself with any purported indorsement of a cheque which under subsection (1) above or otherwise is not transferable.]Textual AmendmentsF23S. 81A inserted (16. 6. 1992) by Cheques Act 1992 (c. 32), ss.1, 4(2).
