37.
| (1) If the amount of the whole of the unpaid portion of the loan (together with all interest due thereon according to the terms of the mortgage), and of the moneys and costs, if any, recoverable by the appropriate authority under section 40 is tendered to that authority at any time before the date fixed for the sale of the land mortgaged to that authority as security for the loan, that land shall not be sold and no further steps shall be taken in pursuance of the order under section 33 for the sale of that land. |
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| (2) If the amount of the instalment or other payment in respect of which default has been made, together with any interest due thereon according to the terms of the mortgage, and of the moneys and costs, if any, recoverable by the appropriate authority under section 40 is tendered to that authority at any time before the date fixed for the sale of the land mortgaged to that authority as security for the loan, that authority may, in the discretion of that authority, direct that such land shall not be sold and that no further steps shall be taken in pursuance of the order under section 33 for the sale of such land. |
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Sri Lanka Consolidated Acts