4. Section 17 of the principal enactment is hereby repealed and the following section substituted therefor"
| 17. Subject to the provisions of section 20. the Board may by resolution to be recorded in writing authorize any person specified in the resolution to enter upon and take possession of immovable any property mortgaged to the bank as security for any loan, overdraft, advance or other accommodation in respect of which default has been made and to manage and maintain such property and to exercise the same powers in the control and management of such property as might have been exercised by the mortgagor, if he had not made default.". |
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Sri Lanka Consolidated Acts