55.
| (1) If the mortgaged property is sold the Bank shall sign a certificate of sale and thereupon all the right, title, and interest of the debtor to and in the property shall vest in the purchaser, nor shall any person claiming through or under any disposition whatsoever of the debtor's right, title, or interest to and in the property made or registered subsequently to the mortgage of the property to the Bank be able in any court of law to move to invalidate the sale for any cause whatsoever or to maintain any right, title or interest to or in the property as against the purchaser. |
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| (2) A certificate signed by the Bank under sub- section (1) shall be conclusive proof with respect to the sale of any property that all the provisions of this Act have been complied with. |
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| (3) The certificate referred to in sub-section (1) shall be substantially in such form as may be prescribed. Different forms may be so prescribed accordingly as the purchaser is, or is not, the Bank. |
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| (4) Every certificate of sale shall be liable to the stamp duty and charges fixed for conveyance of immovable property, and to any registration or other charges authorized by law, all of which shall be payable by the purchaser. |
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| (5) Where the property sold consists of the interest of a lessee under a lease from the Crown, then, if the purchaser of the property is some person other than the Bank, the certificate of sale shall not be signed by the Bank unless the Land Commissioner, in the exercise of his discretion, has approved the purchaser. |
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| (6) Whenever the Land Commissioner refuses, under sub-section (5), to approve any purchaser of the interest of a lessee under a lease from the Crown-
| | (a) all sums paid to the Bank by the purchaser in respect of the sale shall be repaid to him by the Bank; | | |
| | (b) the costs of advertising and holding such sale shall be deemed to be costs recoverable by the Bank under section 53 (b); and | | |
| | (c) the property shall be resold in accordance with the provisions of this Act. | | |
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Sri Lanka Consolidated Acts