No advance shall be made for a period exceeding the unexpired term of the lease:

“Provided that, where the lease confers a right of renewal upon the lessee, the period for which the advance is made may extend to the end of one renewed term of the lease:

“Provided also that no advance shall be made for a period exceeding twenty-five years:

The amount of any advance shall not exceed, either two-thirds of the value of the lessee’s interest in the land as assessed by a valuer registered as a rural valuer under the Valuers Act 1948 in the case of farm land and by a valuer registered as an urban valuer under that Act in the case of other land, or two-thirds of the value of the lessee’s interest in the land as set forth in the district valuation roll prepared under the Valuation of Land Act 1951, whichever is the greater:

No advance shall be made unless the lessee is entitled to compensation in respect of all improvements on the land which are made by him or in which he has an interest or unless the lease was granted under paragraphs (e), (f), or (g) of section 5 of the Public Bodies’ Leases Act 1908:

The savings bank shall be deemed, without further authority than this paragraph, to have been irrevocably appointed as the attorney of the lessee with full authority during the currency of the mortgage to exercise on behalf of the lessee all the lessee’s rights, powers, and options and to perform and observe on behalf of the lessee all the lessee’s covenants and obligations under the lease:

No advance shall be made except in respect of a lease granted by a local authority, a leasing authority within the meaning of the Public Bodies’ Leases Act 1908, or any other body or person approved for the purpose by the Minister of Finance by notice in the Gazette:

Each advance, together with the interest thereon, shall be repayable by periodical instalments of principal and interest:

“Provided that the principal repayable in each year during the term for which the advance is made shall be not less than one-fiftieth of the amount advanced:

Unless the savings bank otherwise consents, every advance shall, without further authority than this paragraph, become immediately repayable upon the sale, transfer, or other disposition of the whole or any part of the lessee’s interest in the land:

A savings bank shall not invest in mortgages under this subsection more than five percent of the total amount for the time being standing to the credit of the depositors in the bank.”