Paragraph 6

For rule 101 substitute–

“Land bought with capital money

101

(1)

Where registered land is acquired with capital money the transfer shall be in one of the forms prescribed by rule 98 and shall include the following provisions, with any necessary alterations and additions:

• “The Transferee declares that:

  1. (a)

     the consideration has been paid out of capital money;

  2. (b)

     the Property is vested in the Transferee upon the trusts declared in a trust deed dated (date) and made between (parties);

  3. (c)

     the trustees of the settlement are (names of trustees);

  4. (d)

     the power of appointment of new trustees is vested in (name);

  5. (e)

     the following powers relating to land are expressly conferred by the trust deed in addition to those conferred by the Settled Land Act 1925: (set out additional powers).”

(2)

An application for registration of a transfer of land acquired with capital money shall be accompanied by an application for the proper restriction.”