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srilawsby aturio
As enacted
Contents

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

39. Payments made before sale

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

(l)

If the amount of the whole of the unpaid portion of the loan together with all interest due thereon according to the terms of the mortgage and of the moneys and costs, if any, recoverable by the Authority under section 42 is tendered to the Authority by the borrower or a person authorized by the borrower in that behalf before the date fixed for the sale of the property mortgaged to the Authority as security for the loan that property shall not be sold and no further steps shall be taken in pursuance of the Order under section 35 for the sale of that property.

(2)

If the amount of the installment or other payment in respect of which default has been made together with any interest due thereon according to the terms of the mortgage and of the moneys and costs, if any. recoverable by the

Authority under section 42 is tendered to the Authority by the borrower or a person authorized by the borrower in that behalf before the date fixed for the sale of the property mortgaged to the Authority as security for the loan, the

Authority may in its discretion direct that such property shall not be sold and that no further steps shall be taken in pursuance of the Order under section 35 for the sale of that property.

Read on from s 40

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