Sri Lanka Consolidated Acts

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State Mortgage And Investment Bank Law (No. 13 of 1975) - Sect 84

Registered address and notices

84.
(1) Every debenture holder and every person -
(a) to whom a loan is granted by the Bank; or
(b) who has obtained probate of the will, or letters of administration to the estate of a person to whom a loan has been granted by the Bank, or who has, under the provisions of section 51 (2), been appointed to represent the estate of a deceased debtor; or
(c) to whom any right, title or interest whatsoever in any property, or in any part of any property, mortgaged to the Bank as security for any loan, has passed, whether by voluntary conveyance or by operation of law,
(2) In any case where any debenture holder or other person fails to register his address under subsection (1), the Bank shall be absolved from all responsibility in respect of the service of any notice required under this Law to be served upon such debenture holder or person:
(3) A notice shall be deemed to have been duly served on any person for the purposes of this Law if the notice is sent by post in a registered letter to the address registered by that person under this section, and the service shall be deemed to have been effected at the time at which the letter would be delivered in the ordinary course of post.


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