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srilawsby aturio
As enacted
Contents

Part V · Priorities

46. Alienation of a debtor’s rights in collateral

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

The rights of a debtor in collateral may be transferred voluntarily or otherwise, notwithstanding any provision in the security agreement prohibiting transfer or declaring a transfer to be a default, but no such transfer shall prejudice the rights of the secured party under the security agreement or otherwise.

Read on from s 47

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