(1)The Secretary of State may, with the consent of the Treasury, make such grants to Highlands and Islands Enterprise as appear to him to be required to enable the body to meet the expenses it incurs in the exercise of its functions and powers.
(2)Any grant under subsection (1) above may be subject to such conditions as the Secretary of State thinks fit to impose.
(3)For the purposes of the exercise of any of its functions or powers, Highlands and Islands Enterprise may, with the consent of the Secretary of State and of the Treasury, borrow money.
(4)No security shall be constituted over land owned by Highlands and Islands Enterprise.