Sch 12 para 14 Cautions against first registration
(1) For the period of two years beginning with the day on which section 15 comes into force, it has effect with the following omissions— (a) in subsection (1), the words “Subject to subsection (3),”, and (b) subsection (3). (2) Any caution lodged by virtue of sub-paragraph (1) which is in force immediately before the end of the period mentioned in that sub-paragraph shall cease to have effect at the end of that period, except in relation to applications for registration made before the end of that period. (3) This paragraph does not apply to section 15 as applied by section 81.