Skip to content
srilawsby aturio
As enacted
Contents

2. Amendment of section 19A of the Debt Conciliation Ordinance (Chapter 81.)

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Section 19A of the Debt Conciliation Ordinance

(Chapter 81) (hereinafter referred to as the “principal enactment”) is heredy amended as follows :-

(1)

by the insertion immediately after subsection (1) of that section, of the following new subsection :-

“(1A) The Board shall not entertain any application by a debtor or creditor in respect of a debt purporting to be secured by any such transfer of immovable property as is a mortgage within the meaning of this Ordinance, unless that application is made within three years of the date of the notarially executed instrument, effecting such transfer :

Provided that nothing in this subsection shall be read or construed as preventing the Board from entertaining, after the period referred to in that subsection, an application by a debtor who is in possession of the Property transferred ; and

(2)

by the substitution in subsection (2) of that section for the words and figures “subsection (1)”

of the words and figures “subsection (1) or subsection (1A)”.

Read on from s 3