5The register of pending actions
(1)There may be registered in the register of pending actions—
(a)a pending land action ;
(b)a petition in bankruptcy filed on or after 1st January 1926.
(2)Subject to general rules under section 16 of this Act, every application for registration under this section shall contain particulars of the title of the proceedings and the name, address and description of the estate owner or other person whose estate or interest is intended to be affected.
(3)An application for registration shall also state—
(a)if it relates to a pending land action, the court in which and the day on which the action was commenced ; and
(b)if it relates to a petition in bankruptcy, the court in which and the day on which the petition was filed.
(4)The registrar shall forthwith enter the particulars in the register, in the name of the estate owner or other person whose estate or interest is intended to be affected.
(5)An application to register a petition in bankruptcy against a firm shall state the names and addresses of the partners, and the registration shall be effected against each partner as well as against the firm.
(6)No fee shall be charged for the registration of a petition in bankruptcy if the application for registration is made by the registrar of the court in which the petition is filed.
(7)A pending land action shall not bind a purchaser without express notice of it unless it is for the time being registered under this section.
(8)A petition in bankruptcy shall not bind a purchaser of a legal estate in good faith, for money or money's worth, without notice of an available act of bankruptcy, unless it is for the time being registered under this section.
(9)As respects any transfer or creation of a legal estate, a petition in bankruptcy which is not for the time being registered under this section shall not be notice or evidence of any act of bankruptcy alleged in the petition.
(10)The court, if it thinks fit, may, upon the determination of the proceedings, or during the pendency of the proceedings if satisfied that they are not prosecuted in good faith, make an order vacating a registration under this section, and direct the party on whose behalf it was made to pay all or any of the costs and expenses occasioned by the registration and by its vacation.