For subsection (2) of section 41 of the Act of 1924 (protection of purchasers) there shall be substituted the following subsection—
“(2)Where a disposition of land is duly recorded in the appropriate Register of Sasines and that disposition bears to be granted in the exercise of a power of sale contained in a deed granting a bond and disposition in security, and true exercise of that power was ex facie regular, the title of a bona fide purchaser of the land for value shall not be challengeable on the ground that the debt had ceased to exist, unless that fact appeared in the said Register, or was known to the purchaser prior to the payment of the price, or on the ground of any irregularity relating to the sale or in any preliminary procedure thereto; but nothing in the provisions of this subsection shall affect the competency of any claim for damages in respect of the sale of the land against the person exercising the said power.”;
but in relation to a disposition duly recorded before the commencement of this Act the said subsection shall continue to have effect as originally enacted.