Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsCancellation of sale
| 57. If the property sold has been purchased on behalf of the Bank the Board may, at any time before it resells the property, cancel the sale by an endorsement to that effect on a certified copy of the certificate of sale, if the debtor or anyone else on his behalf pays 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 a prescribed rate. Such an endorsement shall, upon registration in the office of the Registrar of Lands, revest the said property in the proprietor as though the sale under this Act had never been made. |