2. Section 19A(inserted by Act No. 5 of 1959) of the Debt Conciliation Ordinance (hereinafter referred to as the principal enactment) is hereby amended, by the repeal of subsection (1) of that section, and the substitution therefor, of the following subsection:"
| "(1) The Board shall not entertain any application by a debtor or creditor in respect of a debt purporting to be secured by any such conditional transfer of immovable property as is a mortgage within the meaning of this Ordinance unless that application is made before the expiry of the period within which that property may be redeemed by the debtor by virtue of any legally enforceable agreement between him and his creditor. ". |
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Sri Lanka Consolidated Acts