71.
| (1) Where any savings certificate is seized or sequestered in execution of a decree or order of any court the Fiscal effecting the seizure or sequestration shall forward the savings certificate to the Bank which shall cancel such certificate and pay the surrender value thereof as on the date of seizure or sequestration to the credit of the action in which that decree was entered or order made. |
|
| (2) Where the Fiscal, in the execution of a decree or order entered or made against any person who is the purchaser of a savings certificate or in sequestering the property of any such person under a mandate of sequestration issued by any court, is unable for any reason to obtain possession of the savings certificate, the amount of the surrender value of that certificate shall be deemed to be a debt not secured by a negotiable instrument due from the Bank as debtor to the purchaser as creditor; and the provisions of section 229 of the Civil Procedure Code shall apply accordingly: |
|
|
Sri Lanka Consolidated Acts