Section 30

A loan or advance secured solely by a charge, deed of trust or other instrument upon immovable property or by notes or by other obligations which are so secured shall, for the purposes of this section, be a loan or advance secured by immovable property; a loan or advance secured in part by charge, deed of trust, or other instrument upon immovable property, or by notes or other obligations which are so secured or by any other form of security, shall for the purposes of this section be a loan or advance secured by immovable property to the extent, but only to the extent, of the value of that immovable property as a security as determined by the Central Bank.

Nothing in this section shall be construed to prohibit any bank from accepting as security for a loan or advance made in good faith without security or upon security subsequently found to be inadequate, a charge, deed of trust or other instrument upon immovable property or notes or other obligations which are so secured.

Any licensed bank which acts in contravention of the provisions of subsection (1) shall be guilty of an offence under this Act.