(1) Where a person is registered as limited owner under a settlement, the names of the trustees of the settlement, if any, shall be entered in the register.
(2) The registration of a person as limited owner of settled land shall not -
(a) confer on the person so registered, as against any person claiming under the settlement, any greater powers of dealing with the land than those of a tenant for life under the Settled Land Acts; nor
(b) confer on the assignee, devisee or personal representative or assignee or trustee in bankruptcy of the limited owner any greater estate or interest than he would otherwise have; nor
(c) take away from any trustee under the settlement any powers of dealing with the land which he would otherwise have.
(3) Where a person is by operation of law or otherwise assignee of a person registered as limited owner of land, the name of the assignee shall, on his application, be entered in the register with the addition of the word "assignee", or of such other wo