14. Section 40 of the principal enactment is hereby amended by the insertion immediately after paragraph (b) of that section, of the following paragraph :-
| (c) Every action or proceeding instituted by Housing "Development Finance Corporation of Sri Lanka Limited under Part IX, (Chapter 401) of the National Housing Act, No. 37 of 1954 and pending on the day proceeding the date on which the Housing Development Finance Corporation of Sri Lanka Limited is deemed to have been dissolved, shall, with effect from that day be deemed to he an action on proceeding instituted by the Corporation and every such action on proceeding may be proceeded with to completion and enforced according to the provisions of Recovery of Loans by Banks (Special Provision) Act. No. 4 of 1990. |
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Sri Lanka Consolidated Acts