View All - 2024 Acts
Section No :  
Acts & Ordinances
Marginal Notes
1. Short title and date of operation
2. Application of the Act
3. Exemption from the application of the Act
4. Attaining perfection
5. Subordination of unperfected security rights
6. Establishment of the Secured Transactions Registration Authority
7. Object of the Authority
8. Duties and functions of the Authority
9. Powers of the Authority
10. Board of Directors of the Authority
11. Meetings of the Board
12. Seal of the Authority
13. Fund of the Authority
14. Financial year and the audit of accounts
15. Application of Part II of the Finance Act, No. 38 of 1971
16. The Registrar
17. Staff of the Authority
18. Remunerations to be paid to the Registrar and officers and employees of the Authority
19. Freedom of contract
20. Creation of a security right
21. Security right in movable property acquired after the agreement
22. Future advances
23. Agreement not to assert defence against an assignee
24. Application of the Sale of Goods Ordinance
25. Acceleration clauses
26. Custody and preservation of collateral by a secured party
27. Obtaining information about the security agreement
28. Power of court to issue an order of compliance
29. Perfection of a security right
30. Temporary perfection
31. Perfection as to proceeds
32. Perfection where the goods are held by a bailee
33. Perfection and priority of returned, seized or repossessed goods
34. Transactions in the ordinary course of business
35. Negotiable instruments, &c
36. General rules governing priority
37. Priority of acquisition security rights
38. Priority of items for materials and services
39. Security right in crops
40. Security right in fixtures
41. Security right in accession
42. Security right in processed or comingled assets
43. Right to payment under a lease of immovable property
44. Right to payment under a mortgage of immovable property
45. Voluntary subordination
46. Alienation of a debtor?s rights in collateral
47. Assignment of intangibles etc, and rights of third party account debtors
48. Registration of security rights and the establishment of the Register
49. Application for registration of security rights
50. Financing statement
51. When a registration becomes effective
52. Verification statement
53. Errors in the financing statement
54. Amendment of a registered financing statement
55. Extension or discharge of registration
56. Rejection of an amendment to a financing statement
57. Notice of transfer
58. Notice of subordination
59. Searches
60. Debtor etc, may require amendment statement
61. Entitlement to damages for incorrect filing
62. Requirement to notify the Authority about the appointment of a receiver, & c.,
63. Filing of a financing statement not to consitute a notice
64. Inconsistency with the provisions of this Act
65. Action for damages
66. A court's powr to determine priorities and entitlements to collateral
67. Service of notices
68. Conflicts with the provisions of any other law
69. Members, the Registrar and officers and employees, deemed to be public servants
70. Authority deemed to be a Scheduled Institution
71. Expenses to be paid out of the Fund of the Authority
72. Regulations
73. Rules
74. Repeals and savings
75. Interpretation
76. Sinhala text to prevail in case of inconsistency