4 Effect of land charges and protection of purchasers

4  Effect of land charges and protection of purchasers

(1)     A land charge of Class A (other than a land improvement charge registered after 31st December 1969) or of Class B shall, when registered, take effect as if it had been created by a deed of charge by way of legal mortgage, but without prejudice to the priority of the charge.

(2)     A land charge of Class A created after 31st December 1888 shall be void as against a purchaser of the land charged with it or of any interest in such land, unless the land charge is registered in the register of land charges before the completion of the purchase.

(3)     After the expiration of one year from the first conveyance occurring on or after

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