5. The following new section is hereby inserted immediately after section 41 of the principal enactment and shall have effect as section 41A of that enactment:
| 41A. Nothing in the preceding provisions of this Chapter shall be deemed to prohibit the seizure and sale, by the People's Bank, the State Mortgage and Investment Bank, the Bank of Ceylon, the Development Finance Corporation of Ceylon, the National Development Bank of Sri Lanka, the National Housing Development Authority, the Housing Development Finance Corporation of Sri Lanka Limited or a registered society or other prescribed institution in accordance with the provisions of the law providing for the establishment of such Bank, Corporation, Authority, society or institution, of any land alienated on a grant, for the enforcement of a mortgage on that land executed in favour of such Bank, Corporation, Authority, society or institution, as the case may be ". |
|
|
Sri Lanka Consolidated Acts