Paragraph 4 Lease of franchise or manor
(1)
This paragraph applies to a disposition consisting of the grant out of a franchise or manor of a lease for a term of more than seven years from the date of the grant.
(2)
In the case of a disposition to which this paragraph applies—
(a)
the grantee, or his successor in title, must be entered in the register as the proprietor of the lease, and
(b)
a notice in respect of the lease must be entered in the register.