Part 5Exemption from conversion and continuing leases
Types of exempt lease
65Certain leases registered near or after the appointed day
A lease is an exempt lease if—
(a)
it is not registered on the day falling 1 year before the appointed day,
(b)
it would, had it been so registered, have been converted on the appointed day into a right of ownership under section 4(1)(a),
(c)
despite not being registered, it constitutes a real right in land, and
(d)
it is subsequently registered (whether before, on or after the appointed day).