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2. Insertion of new section 4A in Act…

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

The following new section is hereby inserted immediately after section 4 of the Recovery of Loans by

Banks (Special Provisions) Act, No. 4 of 1990 and shall have effect as section 4A of that Act:-

4A. Notwithstanding the provisions of, the proviso to section 3 and section 4, the Board shall not authorize any person to sell by public auction any property mortgaged to the bank as security for any loan in respect of which default has been made, during the period commencing on the date of commencement this section and ending on 15th December, 2024.”.

Read on from s 3