Section 21 Effect of first registration of leasehold estate with a good leasehold title.

On first registration of a person as full or limited owner of a leasehold estate with a good leasehold title, the person so registered shall, save as is otherwise provided by subsection (2), have the same estate as if he had been registered as full or, as the case may be, limited owner of that leasehold estate with an absolute title.

The first registration of a person as full or limited owner of a leasehold estate with a good leasehold title shall not prejudice or affect the enforcement of any right adverse to, or in derogation of, the title of the lessor to grant the lease.