2. of section 19a of Chapter 81
Feedback & supportOfficial English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Section 19a (inserted by Act No. 5 of 1959) of the
Debt Conciliation Ordinance (hereinafter referred to as the principal enactment) is hereby amended, by the repeal of subsection (1) of that section, and the substitution therefor, of the following subsection :—
“(1) The Board shall not entertain any application by a debtor or creditor in respect of a debt purporting to be secured by any such conditional transfer of immovable property as is a mortgage within the meaning of this
Ordinance unless that application is made before the expiry of the period within which that property may be redeemed by the debtor by virtue of any legally enforceable agreement between him and his creditor. ”.