November 01, 2024
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    Revocation of Irrevocable Deeds of Gifts (Special Provisions) Act Featured

    November 15, 2015

    The Ministry of Justice has taken steps to draft legislations to make provisions for revocation of irrevocable deeds of gifts to be only on the order of a competent court as recommended by the Law Commission

    Issues have been aroused on the rights of donees as the Court of Appeal upheld a judgement of a District Judge wherein the court had held that a donor can revoke an irrevocable deed of gift by executing a deed of revocation without filing action and obtaining a decision of court. It also impacts on lending institutions who are now placed in a disadvantaged position as they can lose the security on which the loan was granted, on a unilateral revocation by the donor.

     

    Accordingly, the proposal made by Hon. Dr.Wijayadasa Rajapaksa, Minister of Justice , was approved by the Cabinet of Ministers.

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