33.
| (1) Subject to the provisions of section 34, the appropriate authority may by order in writing authorize any person specified, in the order to sell by public auction any land mortgaged to that authority as security for any loan in respect of which default has been made in order to recover the whole of the unpaid portion of such loan and the interest due thereon up to the date of sale, together with the moneys and costs recoverable under section 40. |
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| (2) Where any land alienated by the Board is put up for sale under the provisions of sub-section (1), no person shall purchase any right, title or interest in such land except for the purpose of a tourist development project for the time being in operation in respect of that land. |
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| (3) Where any land sold under the provisions of sub-section. (1) is purchased by an approved credit agency, such agency shall, notwithstanding anything in any other law to the contrary, be entitled, with the approval of the Board, to carry out the provisions of the tourist development project, and accordingly the carrying out of such project shall be deemed, for all purposes, to be one of the purposes or objects of such agency. |
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Sri Lanka Consolidated Acts