(a) payment will be taken to be
effected when the cheque is received by the Chief Commissioner provided that
payment occurs when the Chief Commissioner first presents the cheque to the
bank for payment, or
(b) in any other case, payment will be taken to be
effected when payment occurs under the cheque following presentation by the
Chief Commissioner (however, the Chief Commissioner is under no obligation to
present a cheque for payment more than once).
(4) An approval of a means of
payment (other than by personal cheque) may include a stipulation as to when
payment by that means will be taken to be effected and any such stipulation
will have effect according to its terms.
(5) The Chief Commissioner may vary
or cancel an approval under this section.