—(1) A purchaser shall not be prejudicially affected by notice of any instrument, fact or thing unless —
it is within his own knowledge, or would have come to his knowledge if such inquiries and inspections had been made as ought reasonably to have been made by him; or
in the same transaction, with respect to which a question of notice to the purchaser arises, it has come to the knowledge of his counsel as such or of his solicitor or other agent as such, or would have come to the knowledge of his solicitor or other agent as such if such inquiries and inspections had been made as ought reasonably to have been made by the solicitor or other agent.
(2) This section shall not exempt a purchaser from any liability under or any obligation to perform or observe any covenant, condition, provision or restriction contained in any instrument under which his title is derived mediately or immediately, and that liability or obligation may be enforced in the same manner and to the same extent as if this section had not been enacted.
(3) A purchaser shall not by reason of anything in this section be affected by notice in any case where he would not have been so affected if this section had not been enacted.
(4) This section shall apply to purchases made before, on or after 1st August 1886.