All cheques issued by the State Treasurer of this Commonwealth shall become and be void, unless presented to the Treasury Department for payment within sixty days from the date thereof: Provided, however, That upon the surrender of any such cheque, which shall have become void by reason of the failure of the holder thereof to present the same for payment within sixty days as hereinabove provided, the State Treasurer shall issue a new cheque to the payee or payees named in the cheque surrendered in the amount of such cheque.