Registration of notice of order charging registered landN.I.
48.—(1) An order charging any estate of a debtor in registered land of which the debtor is not the registered owner shall not be registered in the Land Registry, but the creditor may cause notice of the order to be so registered.
(2) So long as such a notice as is referred to in paragraph (1) subsists on the appropriate register, the debtor or any person claiming under him shall not be registered as owner of the land unless the charge has been satisfied or has ceased to have effect or is entered on that register as a burden; and the entry relating to such notice shall state the restrictive effect thereof.