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Power to take collateral security into account in determining advance.
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3.—(1) In determining the amount of any advance made before the passing of this Act upon the security of freehold or leasehold estate, a society to which the Principal Act applies shall be deemed always to have had power to take into account, besides the freehold or leasehold estate, the value of any additional security for the advance.
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(2) In determining the amount of any advance made after the passing of this Act upon the security of freehold or leasehold estate, a society to which the Principal Act applies shall have power to take into account, besides the freehold or leasehold estate, the value of any additional security for the advance.
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