Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Students (Higher Education) Loan Fund Act (No. 4 of 1972) - Sect 14

Recipient or guarantor of a loan not to plead the benefit of certain enactments

14.
(1) It shall not be open to the recipient of a loan under this Act or the guarantor of such a loan to plead, in any action, matter or proceeding before any court of law for the recovery of such loan or part thereof or any interest due thereon, the benefit of any of the following statutory provisions: -
(a) the provisions of the Prescription Ordinance;
(b) the provisions of the Public Servants (Liabilities) Ordinance;
(c) the provisions of the proviso to section 218 of the Civil Procedure Code;
(d) the provisions of the Conciliation Boards Act, No. 10 of 1958;
(e) the provisions of the Debt Conciliation Ordinance; and
(f) the provisions of the Insolvency Ordinance.
(2) The provisions of sub-section (1) shall be deemed to be a condition of the grant of a loan under this Act.
(3) Guarantors under this Act shall not be entitled to plead the benefits or privileges afforded to male or female sureties under the law of Ceylon and shall be deemed to be jointly and severally liable with the recipient of the loan.

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]