Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsPriority of charge created by loan made by appropriate authority
| 27. Where a loan is granted by the appropriate authority on the mortgage of any land, that land shall on and after the date of the registration of such mortgage be charged with the payment of the loan with interest in priority to every other debt, mortgage or charge affecting it, except a debt which is secured by a mortgage duly registered prior to such date and which is due to a creditor who in good faith advanced the money before the loan was granted by the appropriate authority. |