(1)  In the application of the Settled Land Act 1884 to settled land held under this Act, the following provisions have effect:

(a) the registered proprietor or the registered proprietors shall be deemed to be the trustee or trustees of the settlement;

(b) where under the Settled Land Act 1884 any power or authority is conferred upon a tenant for life, then upon the written request of the tenant for life, and upon the performance by the tenant for life of the conditions imposed by that Act upon the exercise of that power or authority by a tenant for life, the registered proprietor or registered proprietors shall exercise that power or authority;

(c) where under the Settled Land Act 1884 an instrument is to be executed by a tenant for life in order to exercise any power or authority conferred on a tenant for life, that instrument shall be executed by the registered proprietor or registered proprietors, and that execution shall have the same operation as the execution of such an instrument by a tenant for life is declared to have under that Act;

(d) a registered proprietor or registered proprietors executing a power or authority in accordance with the Settled Land Act 1884 upon the written request of the tenant for life, or with the sanction of the Supreme Court if, being the tenant or the tenants for life, the registered proprietor or registered proprietors are the sole trustee or trustees of the settlement, shall not by reason of executing that power or authority incur any personal liability to the registered proprietor’s or registered proprietors’ beneficiaries or to any other person;

(e) the registered proprietor or registered proprietors referred to in paragraph (d) shall not, for the purpose of executing any power or authority or complying with any request referred to in that paragraph, be bound to enter into any personal covenant or contract;

(f) where under the Settled Land Act 1884 it is provided that land shall be conveyed to any uses or trusts, that expression shall be taken to mean that the land shall be transferred to trustees, and shall be held by them as trustees upon the uses or trusts;

(g) where under the Settled Land Act 1884 it is provided that a contract made by a tenant for life shall be binding on the settled land, that expression shall be taken also to mean that the contract shall be binding on the registered proprietor, and that the registered proprietor shall be bound to give effect to the contract in the same manner as if the registered proprietor had made the contract, subject, however, to that Act;

(h) the term deed used in the Settled Land Act 1884 includes any dealing executed in pursuance of this Act;

(i) notwithstanding anything contained in this section, a registered proprietor of a life estate in registered land may, in the exercise of the powers of a tenant for life under the Settled Land Act 1884 , transfer the fee simple of that land by a transfer which contains a receipt for the purchase price by the trustees of the settlement and otherwise in an approved form.

(2)  Nothing contained in subsection (1) shall be taken to require any person dealing with a registered proprietor of registered land to inquire whether all or any of the provisions of the Settled Land Act 1884 have been complied with in respect of the proposed dealing.

(3)  In this section the term registered proprietor includes any person possessed of or entitled to any charge upon land.