51. When a registration becomes effective

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

(1)

A financing statement that is filed shall become a registered financing statement, when a date, time, and a number (to be known as the “financing statement number”

are assigned to it by the Registrar.

(2)

A financing statement once registered shall continue to be effective-

(a)

until it is discharged; or

(b)

if the financing statement concerned specifies a date on which its registration ceases to be effective and the registration has not by then been discharged, until the date so specified.

Read on from s 52

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