53Terms and conditions of loans

53 Terms and conditions of loans

(1) Subject to this Part, a loan made or guarantee given under this Part by a prescribed authority shall be made or given on such security and on such terms and conditions as the prescribed authority determines. (2) The regulations may make provision for or in relation to the form, registration and effect of securities (other than securities over land) given in pursuance of the last preceding subsection. (3) An infant may give a security, and the security has the same effect, and may be enforced to the same extent, as if he were not an infant.