Sri Lanka Consolidated Acts

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Trust Receipts (Amendment) Act (No. 13 of 1990) - Sect 3

Amendment of Section 3 of the Principal enactment

3. Section 3 of the principal enactment is hereby amended in subsection (2) of that section, as follows:
(1) by the substitution in paragraph (v) of that subsection, for the words " as may be in the premises.", of the words " as may be in the premises ; and " ;
(2) by the addition at the end of that subsection of the following new paragraph:
" (vi) an undertaking to insure those goods until the exportation thereof, against all insurable risks to their full insurable value on a reinstatement basis in the name of the agency and in the case of loss, to pay the insurance moneys to the agency in the same manner as the proceeds of sale.".


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