72.
| (1) Where any property is subject to a mortgage or lease at the time when that property is vested in the Corporation under this Act, the rights of the mortgagee or of the purchaser of the mortgaged property under a mortgage decree, or of the lessee, shall, notwithstanding the provisions of section 35 (3), be limited to any sum paid under this Act as compensation in respect of such property. |
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| (2) Nothing in this Act shall affect the right of a mortgagee to have recourse to any property or security other than that vested in the Corporation under this Act for the recovery of the debt secured by the mortgage. |
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| (3) Where any property is subject to an arrangement, agreement (formal or informal), lease, or notarially executed instrument at the time when that property is requisitioned for the Corporation under this Act, the rights of the parties to such arrangement, agreement, lease or instrument shall, notwith-standing the provisions of section 36 (6), be limited to any sum paid under this Act as compensation in respect of that property. |
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Sri Lanka Consolidated Acts