(1) For section 44C(2) of the Transfer of Land Act 1958 substitute —
"(2) For the purposes of this section, "eligible person" means a person who—
(a) holds insurance of a kind and amount acceptable to the Registrar; and
(b) complies with any other eligibility requirements determined by the Registrar.".
(2) In section 44C(4)(b) of the Transfer of Land Act 1958 , for "subsection (2)(c)." substitute "subsection (2)(b).".