Ceylon State Mortgage Bank and Finance (Amendment) Act (No. 33 of 1968)

Sri Lanka Consolidated Acts

Amendment of section 58 of the principal enactment

22. Section 58 of the principal enactment is hereby amended as follows: -

(1) by the repeal of sub-section (1) of that section, and the substitution therefor of the following new sub-section: -

" (1) Repayment of loans shall be made-

(a) half-yearly, quarterly or monthly by instalments or equated payments; or

(b) in accordance with such terms as may be determined by the board."; and

(2) by the substitution, for the marginal note to that section, of the following new marginal note: -