242.
| (1) Where any vessel is sunk, stranded or abandoned in any harbour or tidal water under the control of a harbour or conservancy authority, or in any approach thereto in such manner as in the opinion of the authority to be or likely to be an obstruction or danger to navigation, or to life boats engaged in life boat service, in that harbour or water or in any approach thereto, that authority may-
| | (a) take possession of, and raise, remove or destroy the whole or any part of the vessel; | | |
| | (b) light or buoy any vessel or part of such vessel until the raising, removal or destruction thereof; | | |
| | (c) subject to sub-sections (2) and (3), sell in such manner as that authority thinks fit any vessel or part so raised or removed, and also any other property recovered in the exercise of the powers of that authority under this section, and out of the proceeds of the sale reimburse itself for the expenses incurred by that authority in relation thereto under this section; and that authority shall hold the surplus, if any, of the proceeds in trust for the persons entitled thereto: | | |
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| (2) A sale shall not, except in the case of property which-
be made under this section, until at least seven clear days' notice of the intended sale has been given, either by advertisement in some local newspaper circulating in or near the district over which the authority referred to in sub-section (1) has control, or in such other manner as that authority shall think fit. | | (a) is of a perishable nature; or | | |
| | (b) would deteriorate in value by delay, | | |
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| (3) At any time before any property is sold under this section, the owner thereof shall be entitled to have such property delivered to him on payment to the authority referred to in sub-section (1) of the fair market value thereof; and such value shall be ascertained by agreement between that authority and such owner or, failing such agreement, by some person to be named for the purpose by the Director. |
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| (4) Any sum received by the authority referred to in sub-section (1) in respect of any property under sub-section (3) shall, for the purposes of sub-section (1), be deemed to be the proceeds of sale of such property. |
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| (5) If the proceeds of sale of any property sold under this section are less than the costs incurred by the authority referred to in sub-section (1) when acting under this section, that authority may recover such difference from the owner of the vessel concerned by civil action. |
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Sri Lanka Consolidated Acts