55. Extension or discharge of registration

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

(1)

The registration of a financing statement may, at any time before it expires, be extended or discharged by the filing of an amendment statement.

(2)

A registration which is extended shall continue to have effect until-

(a)

the date specified in the amendment statement; or

(b)

the date on which the registration is discharged.

(3)

For the purpose of determining priority, the effective time and date for a registration that is extended, shall be the time and date of its initial registration.

Read on from s 56

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