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Conditions and variation of charging order.
[1961, s. 9(7).]
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57.—(1) Where a charge is created under this Chapter in relation to money lent or advanced to any person by the Corporation or in relation to a guarantee given by the Corporation of the payment of money by any person, the loan, advance or guarantee shall be subject to such conditions (including conditions providing for the payment of interest, the manner of repayment of the money lent or advanced by the Corporation or of any money paid by the Corporation on foot of a guarantee given by the Corporation of the payment of money by the person and payment of the interest, whether by instalments or otherwise, and the time for repayment of any such money and the payment of the interest) as may be determined by the Corporation with the consent of that person when the Corporation agrees to make the loan or advance or give the guarantee, as the case may be, and the conditions may be varied or amended subsequently in any manner whatsoever by the Corporation with the consent of the person liable to repay the money, and the conditions (including conditions as subsequently varied or amended) shall be deemed to be and shall operate as covenants entered into with the Corporation by the person liable to repay the money.
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