Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsCancellation of sale
| 52. Where the property sold has been purchased on behalf of the Bank, the Board of Directors may at any time before it re-sells that property, cause the cancellation of the sale by an endorsement to that effect made by the General Manager on a certified copy of the certificate of sale, upon the debtor or any person on his behalf paying the amount due in respect of the loan for which the property was sold (including the costs of seizure and sale) and interest on the aggregate sum at a rate not exceeding the prescribed rate. Such an endorsement shall, upon registration in the office of the Registrar of Lands, revest the property in the debtor as though the sale under this Act had not been made. |