(1) On the transfer of part of any registered land, the Authority, on the prescribed conditions being complied with, may enter on the register as conclusive the boundaries between the part transferred and the part not transferred.

(2) If on any transfer of registered land any question arises as to the boundaries or extent of the land transferred, the Authority shall, on the application of the transferor or transferee, have jurisdiction to decide the question as between them, and for that purpose may, if it seems expedient, adopt the decision of any person agreed on by them or appointed by the Authority .