Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsRe-sale by the Bank
| 53. If the property so sold has been purchased on behalf of the Bank, and the sale is not cancelled under section 52, the Board of Directors may at any time, re-sell the property and transfer to the purchaser by causing an endorsement to be made by the General Manager on a certified cop of the certificate referred to in subsection (3) of section 50, all the right, title and interest which would have been acquired by the purchaser at the original sale. The endorsement shall be liable to the same stamp duty and charges as a certificate to a purchaser at the original sale, and shall, when it is registered in the office of the Registrar of Lands, vest such right, title and interest as aforesaid in the purchaser. |