The Tropical Agriculturist. The Agricultural Journal of Ceylon January 1935

At the moment when the National Government put forward a wide programme for the general reinvigoration of agriculture after the effects of the war and the post-war crisis the state of affairs was as described and the reform of the legislation on agricultural credit appeared to be a matter of urgency. [...] Loans for the farming of lands and for the utilisation manipulation and transformation of the products fall due respectively at the time of harvest or on the completion of the utilisation or transformation of the products. [...] 1787) to extend the period of this type of loan even beyond the time of harvest or the completion of the utilisation or transformation of the product once only and not beyond six months from the due date when this extension is essential for the protection of the market and of the credit. [...] In competition with the holders of mortgages registered before the date of the registration of the special lien the lending institution cannot obtain precedence over the holders of mortgages since in this case the precedence of the other creditors with competing claims to priority holds good in accordance with the provisions of the Italian civil Code. [...] On the other hand in the case of loans made in favour of consortia for land reclamation the guarantee is constituted in the following way : the contributions normally payable by the members to the consortia are made payable instead to the lending institution the payments being recoverable by the same procedure as is in force for the collection of the land tax.