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srilawsby aturio
As enacted
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Part IV · Acquisition of Immovable and Mov,\ Ble Property and Sale of Lands Belonging to the Authority

31. Priority of a mortgage of a loan granted by the Authority

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

Where a loan is granted by the Authority on the mortgage of any property, that property shall, on and after the date of registration of such mortgage be charged with the payment of the loan with interest as priority to every other debt, mortgage or charge affecting it except a debt which is secured by a mortgage duly registered prior to such date and which is due to a creditor who in good faith advanced the money before the loan was granted by the Authority.

Read on from s 32

Part VI

Recovery of Possession of Flats, Living Actommodation or Any Other Building Belonging to the Alltiiority by the Director General

Read on from Part VI