Owner's powers in relation to a registered estate consist of—
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
power to charge the estate at law with the payment of money.
Owner's powers in relation to a registered charge consist of—
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
power to charge at law with the payment of money indebtedness secured by the registered charge.
In subsection (2)(a), "legal sub-mortgage" means—
a transfer by way of mortgage,
a sub-mortgage by sub-demise, and
a charge by way of legal mortgage.