- When any bill of exchange [or promissory note] [Substituted by Act 5 of 1927, Section 5, for "promissory note or cheque " .] chargeable [with a duty not exceeding ten naye paise] [Substituted by Act 19 of 1958, Section 7, for "with the duty or one anna " (w.e.f. 1.10.1958).] is presented for payment unstamped, the person to whom it is so presented, may affix thereto the necessary adhesive stamp, and, upon cancelling the same in manner herein before provided, may pay the sum payable upon such bill [or note] [Substituted by Act 5 of 1927, Section 5, for "note or cheque " .], and may charge the duty against the person who ought to have paid the same, or deduct it from the sum payable as aforesaid, and such bill [or note] [Substituted by Act 5 of 1927, Section 5, for "note or cheque " .]

shall, so far as respects the duty, be deemed good and valid:

Provided that nothing herein contained shall relieve any person from any penalty or proceeding to which he may be liable in relation to such bill or note