Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsAuthorization of manager to take possession of mortgaged property
| 39. Subject to the provisions of section 42, the Board of Directors may by resolution to be recorded in writing authorize any person specified in the resolution to enter upon any immovable property mortgaged to the Bank as security for any loan in respect of which default has been made, to take possession of and to manage and maintain such property, and to exercise the same powers in the control and management of such property as might have been exercised by the mortgagor if he had not made default. |