Where the registered land is a leasehold interest, the registration under this Act of any person as first proprietor thereof with an absolute title shall be deemed to vest in such person the possession of the leasehold interest described, with all implied or expressed rights, privileges, and appurtenances attached to such interest, subject to the following obligations, rights, and interests, that is to say,—
(a)Subject to all implied and express covenants, obligations, and liabilities incident to the registered land; and
(b)Subject to the incumbrances and other entries (if any) appearing on the register; and
(c)Unless the contrary is expressed on the register, subject to such overriding interests, if any, as affect the registered land; and
(d)Where such first proprietor is not entitled for his own benefit to the registered land subject, as between himself and the persons entitled to minor interests, to any minor interests of such persons of which he has notice;
but free from all other estates and interests whatsoever, including estates and interests of His Majesty.