3. Section 41A of the principal enactment is hereby repealed and the following new section substituted therefor :-
| 41. A Nothing in the preceding provisions of this chapter shall be deemed to prohibit the seizure and sale, by a licensed commercial bank, the State Mortgage and Investment Bank, the Development Finance Corporation of Ceylon, the National Development Bank of Sri Lanka, the National Housing Development Authority, the Housing Development Finance Corporation of Sri Lanka Limited or a registered society or other prescribed institution, in accordance with the provisions of the law providing for the establishment of such licensed commercial bank, bank corporation, authority, registered society or prescribed institution, of any land alienated on a grant, for the enforcement of a mortgage on that land executed in favour of such licensed commercial bank, bank corporation, authority, society of institution, as the case may be.". |
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Sri Lanka Consolidated Acts