As enacted

Contents

Secured Transactions Act 2009 · As enacted · Part III · Amendment, Continuation and Termination of the Notice

17. Termination of notice

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

(1)

The validity of a notice may be terminated by filing a termination statement in the prescribed form.

(2)

Upon the receipt of a written demand from a debtor, the secured party may file a termination statement if there is—

(a)

no outstanding secured obligation;

(b)

no commitment to make an advance; and

(c)

written authorization for the filing of a notice by debtor.

Part IV

Miscellaneous