Subject to this section, section
stops applying at the commencement time in relation to registrable charges.
However, if a registrable charge is void under section
immediately before the commencement time, that section continues to apply in relation to the charge, subject to subsection (3) of this section.
The Court may, on such terms and conditions as seem to the Court just and expedient, by order, declare a registrable charge not to be, and never to have been, void under subsection
(a) before the commencement time, the charge is void under subsection
(as the case requires); and
(i) an application is made to the Court under subsection
before the commencement time for an extension of the relevant period, and as at the commencement time, the Court had not made a decision in relation to the application; or
(ii) an application is made to the Court at or after the commencement time for an order under this subsection; and
(c) the Court is satisfied of the matters set out in subsection