(1) The title to property recorded under the Record of Title (Ireland) Act, 1865, shall, at such times as the Authority may direct, be transferred to the registers established by the Act.
(2) The Authority may postpone the entry of any recorded property in a register under the Act until an application is about to be made for the registration under a disposition thereof.
(3) On the entry of the ownership of recorded property in a register under the Act, the record under the Act of 1865 shall be closed and a reference made to the folio of the register to which the property has been transferred.