10.
| (1) The hirer may assign his right, title, interest and obligations under a hire-purchase agreement with the written consent of the owner and all other parties to such agreement or, if the written consent is unreasonably withheld, without his consent. |
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| (2) Except as otherwise provided in this section, no payment or other consideration shall be required by an owner for his consent to an assignment under subsection (1), and where an owner or any other party to such agreement requires any such payment or other consideration for his consent, that consent shall be deemed to be unreasonably withheld. |
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| (3) Where on a request being made by a hirer in that behalf the owner or any other party to such agreement fails or, refuse to give his consent to an assignment under sub section (1) the hirer may apply to the court for an order declaring that the consent of the owner or any other party to such agreement to the assignment has been unreasonably withheld, and where such an order is made, the consent shall be deemed to be unreasonably withheld. |
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| (4) As a condition of granting such consent to an assignment under subsection (1), the owner or any other party to such agreement may stipulate that all defaults under the hire-purchase agreement shall be made good and may require the hirer and the assignee to execute and deliver to the owner or any other party to such agreement an assignment agreement, in a form approved by the owner or any other party to such agreement, whereby, without affecting the continuing personal liability of the hirer in such respect, the assignee agrees with the owner or any other party to such agreement to be personally liable to pay the installments of hire remaining unpaid and to perform and observe all other stipulations and conditions of the hire-purchase agreement during the residue of the term thereof and whereby the assignee indemnifies the hirer in respect of such liabilities. |
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| (5) The provisions of this section shall apply notwithstanding anything to the contrary contained in the hire- purchase agreement. |
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Sri Lanka Consolidated Acts