15.
| (1) If the mortgaged property is sold, the Board shall issue a certificate of sale and thereupon all the right, title, and interest of the borrower to, and in, the property shall vest in the purchaser ; and thereafter it shall not be competent for any person claiming through or under any disposition whatsoever of the right, title or interest of the borrower to, and in, the property made Or registered subsequent to the date of the mortgage of die property to the bank, in any court to move or 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 Board under subsection (1) shall be conclusive proof with respect to the sale of any property , that all the provisions of this Act relating to the sale of that property have been complied with. |
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| (3) If the purchaser is some person other than the bank, the certificate shall be substantially in the prescribed form and, if the purchaser is the bank, the certificate shall be substantially in such other form as may be prescribed. |
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| (4) Every certificate of sale shall be liable to stamp duty and charges as if it were a conveyance of property and to any registration and 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 State, then , if the purchaser of the property is some person other than the bank, the certificate of sale shall not be signed by the Board 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 State |
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Sri Lanka Consolidated Acts