If the land is not
sold, and, in the case of land under the Transfer of Land Act 1893 , a
transfer thereof is not registered within twelve months from the date of the
order for sale, then the order and all proceedings founded thereon shall no
longer be in force and shall cease to bind the land; and, in the case of land
under the Transfer of Land Act 1893 , the Registrar of Titles shall, at
the instance of any person interested in the land, and on payment of the
proper fee, enter on the certificate or other instrument of title a memorandum
to that effect.