(1) Section 5 of the Principal Act is amended in subsection (3) -

(a) by substituting the following for paragraph (a):

"(a)

(i) is issued during the period the agreement is in force, where the agreement is one that relates to the issue of such instrument, or

(ii) is processed during the period the agreement is in force, where the agreement is one that relates to the processing of such instrument,

and",

(b) by substituting "were issued or processed, as the case may be," for "were issued", and

(c) by inserting the following after subsection (3):

"(3A) For the purposes of subsection (3) ' processed ', in relation to an instrument that is a bill of exchange, means a bill of exchange that has been presented for payment and has been paid.".

(2) This section applies as respects agreements (being agreements to which section 5 of the Principal Act relates) entered into on or after 1 January 2009.