Sri Lanka Consolidated Acts

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Farmers Pension And Social Security Benefit Scheme Act (No. 12 of 1987) - Sect 15

Forfeiture of policy

15.
(1) The date before which contributions are payable by a contributor shall be specified in the policy and any contributor who fails to pay five consecutive instalments shall forfeit the benefits under the policy issued to him.
(2) Where any contributor has forfeited the benefits under the policy issued to him the Board shall issue such contributor a notice to that effect.
(3) A contributor shall have the right to appeal to the Board to validate his policy and the Board shall validate the policy if it is satisfied that the reasons for failure to pay the instalments were beyond the control of the contributor.
(4) Where the Board decides to validate a policy the contributor shall be informed of the date before which the arrears in instalments will have to be paid. The date of such. payment shall be the date of validation of the policy.
(5) Any contributor aggrieved by the decision of the Board shall have a right to appeal to the Secretary of the Ministry whose decision shall be final and conclusive.


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