17.
| (1) Where any sum of money due to any specified bank in respect of any loan under this Act, is in the opinion of the Board of Directors of such bank, irrecoverable such Board shall inform the Deputy Secretary to the Treasury in writing that the sum of money specified therein is irrecoverable. Upon receipt of such information, the Deputy Secretary to the Treasury shall pay such sum out of the Fund or from such other source as may be determined by him to the General Manager of such specified bank. |
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| (2) Any such payment by the Deputy Secretary to the Treasury shall not prejudice the rights of such bank to recover such of money according to due process of law : |
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Sri Lanka Consolidated Acts