Any person who obtains or attempts to obtain any chattel, money, valuable security, credit, benefit or advantage or discharges or attempts to discharge any debt or liability by passing any cheque which is not paid on presentation shall, notwithstanding that there may have been some funds to the credit of the account on which the cheque was drawn at the time it was passed, be guilty of an offence, unless he proves:
(a) that he had reasonable grounds for believing that the cheque would be paid in full on presentation; and
(b) that he had no intent to defraud.
Penalty: 2,000 dollars, or imprisonment for 12 months, or both.