3. Section 5 of the principal enactment is hereby amended by the substitution for subsection (1) thereof, of the following subsection:-
| " (1) The Minister may by Order published in the Gazette assign to the commissioners any loan already granted by the Government to any person, society, or body of persons, or to any local authority, including any loan converted under section 30 of this Ordinance, and thereupon all sums due in respect of the said loans shall become payable to the commissioners on the same terms and conditions as those on which prior to such assignment they were payable to the Government, and all securities for the payment of such sums shall be enforceable in the same manner as if they had been given in respect of a loan under this Ordinance". |
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Sri Lanka Consolidated Acts