Sri Lanka Consolidated Acts

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State Mortgage Bank (Amendment) Act (No. 48 of 1958) - Sect 4

Amendment of section 57 of the principal enactment. [ 2, 48 of 1958.]

4. Section 57 of the principal enactment is hereby amended by the insertion , immediately after subsection (2) of that section , of the following new subsection :-
"(3) Where an order made by the board under subsection (1) is not complied with , default shall be deemed to be made in respect of the whole of the unpaid portion of the loan and the interest due theron up to date , and the provision of part (iv) of this chapter shall apply accordingly.

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