63. Filing of a financing statement not to consitute a notice

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

(1)

The filing of a financing statement or an amendment statement shall not constitute constructive notice or actual knowledge of its existence or contents, to any person.

(2)

A purchaser who in the ordinary course of business purchases any collateral, shall not be required to inquire as to whether-

(a)

the collateral has been charged or pledged or in the case of receivables, sold; or

(b)

the disposition constitutes a breach of the terms of the charge.

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