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23.—(1) Subject to paragraph (2), a relevant disposition is to be treated for all purposes after commencement as an event to which the requirement of registration applies.
(2) For the purposes of section 6(4) of the Act, the period for registration is the period that expires at the end of the applicable period referred to in section 123A(3) of the 1925 Act, or such longer period as the registrar may provide under section 6(5) of the Act.
(3) In this article “relevant disposition” means a disposition of unregistered land where—
(a)before commencement section 123A of the 1925 Act applied to it,
(b)no application to register the relevant legal estate in accordance with section 123A(2) of the 1925 Act had been made before commencement, and
(c)immediately before commencement the applicable period referred to in section 123A(3) of the 1925 Act had not expired.
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