Sri Lanka Consolidated Acts

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Ceylon Railway Daily-Paid Workers Benevolent Association (Incorporation) Act (No. 3 of 1965) - Sect 29

Corporation may not sell, exchange, or mortgage, land without leave of court

29.
(1) It shall not be lawful for the Corporation to sell, exchange, or mortgage any land vested in it without the leave of the District Court of Colombo. Such leave shall be applied for by the Committee on behalf of the Corporation by petition addressed to the said court setting out the facts and the reasons for which the Corporation desires to sell, exchange, or mortgage such land, and praying for an order of the said court.
(2) If the said court is of opinion that it is to the general advantage of the Corporation to grant the prayer of the petition, an order may be made to that effect, and if the court declines to grant the prayer, it shall be competent for the Committee to appeal against such decision to the Supreme Court.

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