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srilawsby aturio
As enacted
Contents

Part I · Preliminary

2. Application of the Act

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

Subject to the provisions of section 3, the provisions of this Act shall apply-

(a)

in respect of every transaction that in substance creates a security right, irrespective of its form and without having regard to the type of asset or the person who has the title to the collateral that is the subject of such security right, including but without limiting to,-

(i)

chattel mortgage, conditional sale, debenture, fixed charge, floating charge, pledge, trust indenture or trust receipt; and

(ii)

an assignment, consignment, lease or transfer of chattel paper, where payment or performance of an obligation is secured;

(b)

to a transfer of an account or chattel paper, even where such transfer may not secure payment or performance of an obligation;

and

(c)

to a lease for a term over one year, even where such lease may not secure payment or performance of an obligation.

Read on from s 3

Part II

Establishment of the Secured Transactions Registration Authority

Read on from Part II

Part III

Creation of Security Rights and Rights of Parties

Read on from Part III

Part IV

Perfection

Read on from Part IV

Part V

Priorities

Read on from Part V

Part VI

Registration

Read on from Part VI

Part VII

General Provisions

Read on from Part VII

Part VIII

Repeals and Savings

Read on from Part VIII

Part IX

Interpretation

Read on from Part IX