PART IVDEALINGS WITH REGISTERED LAND
Creation of security by deposit of land certificate, etc.
50Creation of security by deposit of land certificate or certificate of charge.
Subject to—
a
b
any Schedule 5 burdens affecting the landF1 at the date of the deposit mentioned below; and
c
Land Registry Rules;
the deposit of a land certificate, or a certificate of charge, by the registered owner, for the purpose of giving security for the payment of any sum of money, shall have the same effect as a deposit of title deeds has in respect of unregistered land.