No application for registration under section 3 may be made in respect of a leasehold estate in land under a PPP lease.
The requirement of registration does not apply on the grant or transfer of a leasehold estate in land under a PPP lease.
For the purposes of section 27, the following are not dispositions requiring to be completed by registration—
the grant of a term of years absolute under a PPP lease;
the express grant of an interest falling within section 1(2) of the Law of Property Act 1925 (c. 20), where the interest is created for the benefit of a leasehold estate in land under a PPP lease.
No notice may be entered in the register in respect of an interest under a PPP lease.
Schedules 1 and 3 have effect as if they included a paragraph referring to a PPP lease.
In this section, "PPP lease" has the meaning given by section 218 of the Greater London Authority Act 1999 (c. 29) (which makes provision about leases created for public-private partnerships relating to transport in London).