—(1) Where permission has been granted to develop or subdivide any unregistered land, the owner shall not be entitled to deal with the land or any part thereof.
(2) The Registrar of Deeds may refuse to register any assurance of the land or part thereof under the Registration of Deeds Act unless —
the entire parcel of land is brought under the provisions of this Act in accordance with Division 1 or 2; or
the Registrar issues to the owner a certificate exempting the land from this section.
(3) Subject to subsection (4), subsection (2) shall not apply to unregistered land where permission for the subdivision of any building erected thereon was previously granted and an assurance of part of that subdivided building was registered under the Registration of Deeds Act before 15th May 1968.