Section 33 — Contingent interests

(1)A new folio must not be created in favour of —

(a)a person entitled to a bare power of appointment over land; or

(b)a person or class of persons entitled only to a contingent interest in land.

(2)Any instrument creating an interest mentioned in subsection (1) must be registered by entering a memorial thereof on the current folio evidencing the title to the land in question.

(3)For the purposes of this section, persons entitled in default of execution of a power of appointment, or who are unascertained at the date of entry of such a memorial, are deemed to have contingent interests.