Debt Recovery (Special Provinces) Act (No. 2 of 1990)

Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Debt Recovery (Special Provinces) Act (No. 2 of 1990) - Sect 2

Action by lending institution for recovery of action

(1) A lending institution (hereinafter referred to as the "institution ') may, subject to the provisions of subsection (2) recover debt due to it by an action instituted in terms of the procedure laid .down by this Act in the District Court within the local: limits of whose jurisdiction"

	(a) a party defendant resides; or '

	(b) the cause of action arises; or

	(c) the contract sought to be enforced was made.

(2) No action shall be instituted by an institution in terms of the procedure laid down by this Act, ,for the recovery of any loan, where the principal amount lent or advanced was less than one hundred and; fifty, thousand rupees.

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]