(1) A mortgage may, with the approval of the Authority be expressed in a currency other than East Caribbean currency, and where this is the case, these Regulations shall apply with the necessary modifications.
(2) All monies payable by the mortgagor to an approved mortgagee or to an approved housing company shall be payable by the mortgagee in the currency in which the mortgage loan is expressed, or the equivalent in East Caribbean currency at the official rate prevailing in Saint Lucia on the date on which payment is made.
(3) This regulation shall not prejudice the operation of any law in force in Saint Lucia relating to foreign currency.