(1) A person (the
third party ) dealing with a person (the new owner ) who has acquired, or
purports to have acquired, title to property from a GTE (whether directly or
indirectly) is entitled to make the assumptions mentioned in section 154.
(2) In any proceedings
in relation to the dealings, any assertion by the GTE or the new owner that an
assumption that the third party is entitled to make is not correct must be
disregarded.