15.
| (1) It shall not be, open to a recipient of a loan under this Act, or to the guarantor of such a loan to plead, in any action, matter or proceeding before any court of law for the recovery of such loan or part thereof or any interest due thereon, the benefit of any of the provisions of the following enactments :-
| | (a) the Prescription Ordinance (Chapter 68); | | |
| | (b) the Debt Conciliation Ordinance (Chapter 81) ; | | |
| | (c) the Insolvency Ordinance (Chapter 97) ; | | |
| | (d) the Civil Procedure Code (Chapter 101); | | |
| | (e) the Public Servants (Liabilities) Ordinance (Chapter 103). | | |
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| (2) The provisions of subsection (1) shall be deemed to be a condition to the grant of any loan under this Act, |
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| (3) The guarantor of any loan under this Act shall not be entitled to plead the benefits or privileges afforded to a surety under the laws of Sri Lanka, and shall be deemed to be jointly and severally liable with the recipient of the loan for its re payment. |
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Sri Lanka Consolidated Acts