Section 19: Implied terms as to legal ownership of the leased equipment

(1) On the registration of a lease agreement the lessor is the legal owner of a leased equipment.
(2) The implied legal ownership of a lessor or his assign under. a lease agreement shall prevail at all times over any claim by a lessee, a lessee’s creditor or third party.
(3) Notwithstanding anything to the contrary in any law, mere fixture of a leased equipment to Land or building shall, not confer ownership in a leased equipment on any person other than the lessor.
(4) Any provision in a lease agreement that is inconsistent with subsections (1), (2) and (3) of this section shall be null and void to the extent of the inconsistency.