(1)A deed of arrangement affecting land maybe registered in the register of deeds of arrangement affecting land, in the name of the debtor.
(2)The registration may be made on the application of a trustee of the deed, or of a creditor assenting to or taking the benefit of the deed.
(3)The registration may be vacated pursuant to an order of the court or a judge thereof.
(4)The registration of a deed of arrangement in the said register shall cease to have effect at the expiration of five years from the date of registration, but may be renewed from time to time, and if renewed shall have effect for five years from the date of renewal:
Provided that nothing in this subsection shall affect any registration made under any enactment replaced by this Act until the expiration of one year from the commencement of this Act.
Every deed of arrangement, whether made before or after the commencement of this Act, shall be void as against a purchaser of any land comprised therein or affected thereby unless the deed is for the time being registered pursuant to this Part of this Act.