Sri Lanka Consolidated Acts

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Debt Recovery (Special Provision) (Amendment) Act (No. 9 of 1994) - Sect 11

Replacement of section 12 of the principal enactment

11. Section 12 of the principal enactment repealed and the following section is substituted therefor:-
12. "Where the defendant appears in court in response to the decree nisi and does not contest the decree nisi but admits liability and prays to liquidate the debt in instalments, the court shall with the approval of both parties to the action, minute the fact on the record and thereafter make the decree absolute. Such settlement shall operate as a stay of execution of proceeding unless the defendant acts in breach of any of the terms of settlement, in which event the institution Shall be entitled to execute the decree".


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