8. The following new sections are hereby inserted immediately after section 45, and shall have effect as sections 45A, 45B and 45c, of the principal Act:-
| 45A.
| | (1) No property which is security for a loan granted from the National Housing Fund shall, where the construction of the building or buildings for the construction of which the loan was granted is not completed, be sold, gifted, leased or otherwise alienated except with the written permission of the Commissioner and in accordance with such conditions as he may impose. | | |
| | (2) Notwithstanding anything to the contrary in any other written law, any disposition of any property to which subsection (1) applies shall, if it is in contravention of that subsection, be invalid. | | |
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| 45B. Notwithstanding anything to the contrary in any other written law, no property which is security for a loan granted from the National Housing Fund shall, where the construction of the building or buildings for the construction of which the loan was granted is not completed, be seized or sold in execution of a decree of any court other than a decree in favour of the Commissioner. |
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| 45C. No property which is security for a loan granted from the National Housing Fund shall be sold, gifted, leased or otherwise alienated to any person who is not a citizen of Ceylon.". |
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Sri Lanka Consolidated Acts