Decision of the Standing Committee of the National Peoples Congress on Amending the Law of the Peopl

nt or guaranty in relation to negotiable instruments， the law of the place where it takes place shall apply.

　　Article 99 As regards the limitation of time for the exercise of the right of recourse， the law of the place of issue shall apply.

　　Article 99 As regards the limitation of time for the exercise of the right of recourse， the law of the place of issue shall apply.

　　Article 100 As regards the limitation of time for the presentment of instrument， manner of proof of dishonour and the limitation of time for issue of proof of dishonuor， the law of payment shall apply.

　　Article 101 In the case of loss of a negotiable instrument， the law of the place of payment shall apply to the procedure for application by the person who lost the instrument for preservation of rights on the instrume

nt.

　　Chapter Ⅵ

　　Legal Responsibility

　　Article 102 Whoever commits any of the following acts of fraud in relation to negotiable instruments shall be investigated for criminal responsibility according to law：

　　（1）forgery or alteration of instruments；

　　（2）intentional use of forged or altered instruments；

　　（3）in order to defraud money or property， singing and issuing rubber cheques or intentionally singing and issuing cheques whereon the signature or seal is not in consistency with the reserved specimen of signature or seal；

　　（4）singing and issuing bills of exchange or promissory notes without a reliable source of funds to defraud money；

　　（5）in the capacity of a drawer， falsely specifying the particulars on a bill of exchange or promissory note at the time of issue to defraud money or property；

　　（6）fraudulently using another's instrument or intentionally using an overdue or canceled instrument to defraud money or property； or

　　（7）in the capacity of a drawee， committing any of the acts mentioned in the preceding six sub-paragraphs through ill-intentioned collusion with the drawer and/or holder.

　　Article 103 Whoever commits an act mentioned in the preceding paragraph， if the case is minor and does constitute a crime， shall be given administrative punishment in accordance with relevant State regulations.

　　Article 104 Any staff member of a financial institution who， through neglect of his duty， accepts， pays or guarantees a negotiable instrument which is at variance with the provisions of this Law， shall be given administrative sanction； if his act cause heavy losses and thus constitutes a crime， he shall be investigated for criminal responsibility according to law.

　　If losses are caused to the parties to the instrument as a result of the above-mentioned act committed by a staff member of a financial institution， the said institution and the person who is directly responsible shall be liable for the losses according to law.

　　Article 105 If a drawee intentionally delays paying an instrument payable at sight or a matured instrument， the financial administrative department shall mete out a fine to the drawee and give administrative sanction to the person who is directly responsible.

　　If losses are caused to the holder due to the intentionally delayed payment， the drawee shall be liable for the losses according to law.

　　Article 106 Whoever commits an act in violation of the provisions of this Law， except acts for which the doer shall be liable for losses under this law， and causes losses to others shall bear civil liability according to law.

　　Chapter Ⅶ

　　Supplementary Provisions

　　Article 107 As regards the calculation of all the time limits stipulated by this Law， the relevant provisions of the General Principles of the Civil Law on limitation of time shall apply.

　　When limitation of time is prescribed in months， it expires on the corresponding day of the month when the instrument matures. If there is no corresponding day， the time limit expires on the last day of the said month.

　　Article 108 The forms of bills of exchange， promissory notes and cheques shall be unified.

　　The forms and measures for the administration of printing of negotiable instruments and relevant documents shall be prescribed by the People's Bank of China.

　　Article 109 The People's Bank of China shall， in accordance with this Law， formulate specific measures for the administration of negotiable instruments， which shall go into effect after being approved by the State Council.

　　Article 110 This Law shall go into effect as of January 1， 1996

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