Section 57ANegotiation of instrument of party already liable thereon

s. 57A

57A. Negotiation of instrument of party already liable thereon [Where a negotiable instrument is negotiated back before maturity to the maker or drawer or a prior indorser or to the acceptor, such party may, subject to the provisions of this Act, re-issue and further negotiate the instrument, but he is not entitled to enforce payment of the instrument against any intervening party to whom he was previously liable.

1. 10. Sections 57A and 57B were inserted by section 30 of the Negotiable Instruments (Amendment) Ordinance, 1962 (Ordinance No. XLIX of 1962)