(1) Where any land of which Challenge is, or is deemed or taken to be, the registered proprietor is by virtue of Part 2 vested in Westpac, notwithstanding anything to the contrary in any written law or other law, Westpac is to be deemed to be the registered proprietor of the land for the purposes of the Transfer of Land Act 1958 and the land may be dealt with accordingly.
(2) Where any land of which Challenge or Westpac is, or is deemed or taken to be, the registered proprietor is by virtue of Part 3 or 4 vested in Bank of Melbourne, notwithstanding anything to the contrary in any written law or other law, Bank of Melbourne is to be deemed to be the registered proprietor of the land for the purposes of the Transfer of Land Act 1958 and the land may be dealt with accordingly.