Section 31. Cancelling stamps on foreign bills by holder. Penalty for failure to cancel such stamps

31. Cancelling stamps on foreign bills by holder. Penalty for failure to cancel such stamps. 31. Any person or firm presenting for acceptance or payment a bill of exchange or promissory note to which an adhesive stamp has been affixed under section eight, and any person or firm endorsing, transferring, or in any manner negotiating such bill or note, shall, before delivering the same out of his or its hands, custody or power, cancel the stamp so affixed, in such manner as to show that the stamp has been made use of, and so that the same shall not admit of being used again. Any ACT No. XVIII of 1869. Any person or firm who or which ought, as directed by this Act, to cancel such stamp in manner aforesaid, and refusing or neglecting so to do, shall be liable for every such offence to fine not exceeding one hundred rupees.