12(1)This paragraph applies if on a transfer under a transfer scheme a transferor is entitled to retain possession of any document relating in part to the title to, or to the management of, any land or other property transferred to a transferee.
(2)If the land or other property is situated in England and Wales—
(a)the transferor is to be treated as having given the transferee an acknowledgement in writing of the transferee’s right to production of the document and to delivery of copies of it, and
(b)section 64 of the [1925 c. 20.] Law of Property Act 1925 (production and safe custody of documents) is to apply to the acknowledgement and is to apply on the basis that the acknowledgement does not contain an expression of contrary intention.
(3)If the land or other property is situated in Scotland, subsections (1) and (2) of section 16 of the [1979 c. 33.] Land Registration (Scotland) Act 1979 (omission of certain clauses in deeds) is to have effect in relation to the transfer as if the transfer had been effected by deed and as if from each of those subsections the words “unless specially qualified” were omitted.
(4)If the land or other property is situated in Northern Ireland—
(a)the transferor is to be treated as having given the transferee an acknowledgement in writing of the transferee’s right to production of the document and to delivery of copies of it, and
(b)section 9 of the [1881 c. 41.] Conveyancing Act 1881 (which corresponds to section 64 of the [1925 c. 20.] Law of Property Act 1925) is to apply to the acknowledgement and is to apply on the basis that the acknowledgement does not contain an expression of contrary intention.