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srilawsby aturio
As enacted
Contents

Part III · Amendment, Continuation and Termination of the Notice

19. Claim concerning inaccurate or wrongfully filed notice

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

(1)

A person who has reasons to believe that the name of the person is inaccurate or wrongfully specified in the initial notice he shall forthwith take steps to bring such fact to the notice of the Credit Information Bureau of Sri

Lanka, and the Bureau shall upon consideration of the matter correct the name accordingly.

(2)

A correction statement may—

(a)

identify the record to which it relates by the file number assigned to the initial notice;

(b)

indicate that it is a correction statement;

(c)

give reasons for the basis of the belief that such statement is inaccurate and the manner of rectification of such statement; and

(d)

indicate that the notice covers accounts or chattel paper that have been sold but as to which the debtor or other person obligated has discharged its obligation.

(3)

A termination statement effectively terminates the interest of a secured party on the notice, only if the termination statement is authorized in writing by that secured party. Upon the filing of an effective termination statement, the notice to which the termination statement relates becomes ineffective with respect to the authorizing of the secured party.

Read on from s 20

Part IV

Miscellaneous

Read on from Part IV