C.--Of the Time of Stamping instruments.
Bills and notes drawn out of Bangladesh.
19. The first holder in Bangladesh of any bill of exchange payable otherwise than on demand or promissory note drawn or made out of Bangladesh shall, before he presents the same for acceptance or payment, or endorses, transfers or otherwise negotiates the same in Bangladesh, affix thereto the proper stamp and cancel the same:
(a) if, at the time any such bill of exchange, or note comes into the hands of any holder thereof in Bangladesh, the proper adhesive stamp is affixed thereto and cancelled in manner prescribed by section 12; and such holder has no reason to believe that such stamp was affixed or cancelled otherwise than by the person and at the time required by this Act, such stamp shall, so far as relates to such holder, be deemed to have been duly affixed and cancelled;
(b) nothing contained in this proviso shall relieve any person from any penalty incurred by him for omitting to affix or cancel a stamp.
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Ministry of Law, Justice and Parliamentary Affairs