Section 21. Provisions of section 20, not to apply to certain transfers and transferees

Nothing in section 20 shall apply to-

(a) any transfer which has been finally adjusted to be a transfer other than a mortgage by a decree of a Court, tribunal or other authority of competent jurisdiction; and

(b) any bona-fide transferee for value without notice of the real nature of such transfer or his representative, where such transferee or representative holds under a registered deed executed before the date on which this Act comes into force.