(1) The occupier under a buy-back transaction is to be treated as being entitled to, or to be beneficially interested in, the land for the purposes of section 137(1)(a) of the Land Transfer Act 1952.
(2) A term of a buy-back transaction is entirely of no effect if it—
(a) prohibits the occupier from lodging with the Registrar (within the meaning of the Land Transfer Act 1952) a caveat against dealings in the land; or
(b) otherwise restricts the ability of the occupier to lodge with the Registrar a caveat against dealings in the land.