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Negotiable Instruments (Amendment) Bill of the Kingdom of Bhutan 2020

Posted on :23 July 2020

The Natural Resources and Environment Committee (NREC) met with nine relevant stakeholders such as financial institutions, Royal Monetary Authority, Judiciary, Royal Bhutan Police and private contractors to discuss on the Negotiable Instruments (Amendment) Bill of the Kingdom of Bhutan 2020. Besides the members of the Committee, interested members also took part in the discussion.
Cordially welcoming the participants, Hon. Karma Gyeltshen, Chair to the Committee in highlighting the background of the Bill stated that the Bill has been introduced as a private member Bill and endorsed in the last session of the National Assembly. He also said that the main purpose of the meeting was to collect general views from the affiliated stakeholders in implementing the Bill and to further understand if there is a need to amend the Bill for uniformity.
The stakeholders also took the opportunity of the forum and shared their concerns on various issues and challenges faced in implementing the Bill.
From the National Assembly the House received two amendments in the Bill: Section 29B which is in regard to forged or unauthorized signatures and section 131 on dishonour of cheque for insufficiency of funds in the accounts.
The Bill is in the review state with the NREC.

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