Duration of trusts for sale

(1) Where land has, either before or after the commencement of this Act, become subject to an express or implied trust for sale, such trust shall, so far as regards the safety and protection of any purchaser thereunder, be deemed to be subsisting until the land has been transferred to or under the direction of the persons interested in the proceeds of sale. (2) This section shall apply to sales whether made before or after the commencement of this Act, but shall operate without prejudice to an order of any court restraining a sale.