Malaysia legislation
Section 2
Section 2
Interpretation
“acceptance” means an acceptance completed by delivery or notification;
“bank holiday” and “public holiday” respectively include, as regards any
State, any day declared to be such under any written law for the time being in force in any State and includes any day (other than a Sunday) observed as a weekly holiday in any State;
“banker” includes a body of persons, whether incorporated or not, who carry on the business of banking;
“bankrupt” includes any person whose estate is vested in a trustee or assignee under the law for the time being in force relating to bankruptcy;
10 Laws of Malaysia ACT 204
“bearer” means the person in possession of a bill or note which is payable to bearer;
“bill” means bill of exchange;
“delivery” means transfer of possession, actual or constructive, from one person to another;
“foreign currency” means any currency other than currency—
(a)
of Malaysia; or
(b)
which by reason of any agreement or arrangement entered into between the Central Bank and any other monetary authority of another country, is deemed to be interchangeable with the currency of Malaysia;
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
“indorsement” means an indorsement completed by delivery;
“issue” means the first delivery of a bill or note, complete in form, to a person who takes it as a holder;
“note” means promissory note;
“suit” includes action, counterclaim and set-off;
“value” means valuable consideration.