Commonwealth Consolidated Acts

BILLS OF EXCHANGE ACT 1909 - SECT 39

             (1)  An indorsement in blank specifies no indorsee, and a bill so indorsed becomes payable to bearer.

             (2)  A special indorsement specifies the person to whom, or to whose order, the bill is to be payable.

             (3)  The provisions of this Act relating to a payee apply, with the necessary modifications, to an indorsee under a special indorsement.

             (4)  When a bill has been indorsed in blank, any holder may convert the blank indorsement into a special indorsement by writing, above the indorser's signature, a direction to pay the bill to or to the order of himself, herself or some other person.