(1) An agreement by which a person lends money to another person and security given in respect of that loan shall not be void because the loan is used or is required to be used for gaming or betting or participating in a lottery or for discharging a debt whether valid or not, incurred through gaming or betting or participating in a lottery;

(2) This section does not apply to an agreement by which a person knowingly lends money for an unlawful purpose.