23Owner’s powers
(1)Owner’s powers in relation to a registered estate consist of—
(a)power to make a disposition of any kind permitted by the general law in relation to an interest of that description, other than a mortgage by demise or sub-demise, and
(b)power to charge the estate at law with the payment of money.
(2)Owner’s powers in relation to a registered charge consist of—
(a)power to make a disposition of any kind permitted by the general law in relation to an interest of that description, other than a legal sub-mortgage, and
(b)power to charge at law with the payment of money indebtedness secured by the registered charge.
(3)In subsection (2)(a), “legal sub-mortgage” means—
(a)a transfer by way of mortgage,
(b)a sub-mortgage by sub-demise, and
(c)a charge by way of legal mortgage.