(1) Every Crown lease, upon registration, shall be subject to this Act, and (subject to the Act under which the Crown lease was granted and to the Crown lease) may be transferred, mortgaged and dealt with for the same purposes, and in like manner, as if it had been granted by a proprietor of land under this Act and registered in the register.
(2) Any entries which, in the case of a lease granted by a proprietor of land under this Act, would require to be made in the register shall, in the case of a registered Crown lease, be made in the register on the folio constituted by the Crown lease.