Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsAccelerated payments or termination with notice to lessee
| 21. (1) A lessor shall, prior to enforcing the right to accelerated payment or to the termination of a finance lease under section 20, serve by registered post a notice on the lessee- (a) specifying the circumstances which had caused a substantial failure of the lease within the meaning of the finance lease ; (b) appointing a date, not being a date less than twenty-one days alter the receipt of the notice, for remedying the failure referred to in paragraph (a). (2) Where a lessee fails to remedy the failure specified in a notice served under subsection (1) on or before the dale appointed in the notice, or fails to give a reasonable cause for such failure, the lessor may act in accordance with the provisions of section 20. |