39. Transfer of assets and liabilities of the Housing Finance Development Corporation of Sri Lanka Lid

Notwithstanding anything to the contrary in any other

Law, the members of the building society registered under the Nationa! Housing Act (Chapter 401) as the Housing

Development Finance Corporation of Sri Lanka Ltd., may resolve to transfer all its assets and liabilities to the

Corporation, and upon such resolution, the assets and liabilities of the Housing Development Finance Corporation of Sri Lanka Ltd., shall stand transferred to the Corporation with effect from the date of such resolution and the Housing °

Development Finance Corporation of Sri Lanka Ltd., shall be deemed to have been dissolved with effect from that date.