Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsAuthorisation of sale of mortgaged property
| 41. 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 sell by public auction any immovable property mortgaged to the Bank as security for any loan in respect of which default has been made in order to recover the whole of the unpaid portion of such loan, and the interest due thereon, up to the date of the sale, together with the moneys and costs recoverable under section 48. |