Sri Lanka Consolidated Acts

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Agricultural Lands Act (No. 42 of 1973) - Sect 33

Priority of charge created by loan made

33.
(1) Notwithstanding anything to the contrary in any law for the time being in force, any charge or mortgage created on any land or interest therein in favour of a prescribed bank in respect of any loan granted to any owner or occupier of agricultural land by a prescribed bank shall have priority over any other charge or mortgage that may have been created over such land or interest therein in favour of any person prior to the date on which the charge or mortgage was created in favour of the prescribed bank.
(2) Any debt due or payable to a prescribed bank by any owner or occupier of agricultural land shall be a first charge upon-
(i) crops or other agricultural produce; and
(ii) cattle, fodder for cattle or agricultural implements,


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