48. In addition to the amount due on any loan, the Board of Directors may recover from the borrower, or any person acting on his behalf-
| (a) all moneys expended by the Bank in accordance with the covenants contained in the mortgage bond executed by the person to whom the loan was made, in the payment of premia and other charges in respect of any policy of insurance effected on the property mortgaged to the Bank, and in the payment of all other costs and charges authorized to be incurred by the Bank, under the covenants contained in such mortgage bond ; and |
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| (b) the costs of advertising the sale and of selling the mortgaged property: Provided that the costs incurred under this paragraph shall not exceed such percentage of the loan as may from time to time be fixed by resolution of the Board. |
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Sri Lanka Consolidated Acts