Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsLiability of interest
| 301. Where Law executor or administrator fails to pay over to the creditors, heirs, legatees, or other persons the sums of money to which they are respectively entitled, within one year after probate or administration was granted, such executor or administrator shall be liable to pay interest out of his own funds for all sums which he has retained in his own hand-after that period, unless he shows to the satisfaction of the Public Trustee sufficient cause for such retention: Provided that the Public Trustee may extend the aforesaid period of one year at his discretion. |