Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsPriority of charge created by loan
| 42. Where a loan is granted by the Bank, on the mortgage of property, such property shall, from and after that date of the mortgage, be charged with the payment of the loan with interest in priority to every other debt, mortgage or charge affecting it, except any earlier duly registered mortgage debt due to the creditor who, in good faith, advanced the money before the loan was granted by the Bank. |