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(1)The person making the disposition is not liable under the covenants implied by virtue of—
(a)section 2(1)(a) (right to dispose),
(b)section 3 (charges, incumbrances and third party rights), or
(c)section 4 (validity of lease),
in respect of any particular matter to which the disposition is expressly made subject.
(2)Furthermore that person is not liable under any of those covenants for anything (not falling within subsection (1))—
(a)which at the time of the disposition is within the actual knowledge, or
(b)which is a necessary consequence of facts that are then within the actual knowledge,
of the person to whom the disposition is made.
(3)For this purpose section 198 of the M1Law of Property Act 1925 (deemed notice by virtue of registration) shall be disregarded.
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