Murray-Aynsley CJ:

This is a point of some practical importance, namely, whether a transaction is registrable under the Registration of Deeds Ordinance (Cap. 121). That is to say, it has to be considered whether a transaction is one by which land is affected within the meaning of s. 5(1) of that Ordinance.

At the outset I should like to point out that the word "land" must mean title to land.Land in its simplest meaning of part of the earth's surface is not affected by the transactions of conveyancers.

The interest with which we are concerned at the moment arises under a settlement created by the will of one Tan Tye. It is unfortunately necessary to set out part of the will that is material at length:

ALL the residue of my real and personal estate I give to my said trustees upon trust as and when they shall think fit to realize and convert into money so much thereof as shall not consist of any estate or interest in land or houses or of cash and to invest such case and the proceeds of such conversion (after paying thereout my debts, funeral and testamentary expenses and legacies and providing for all monthly payments in the nature of annuities) in their own names upon the purchase of land and houses in the Town of Singapore in the Island of Singapore or upon the security of freehold or leasehold land and houses in the Town of Singapore and upon trust to retain and not to sell or encumber any estate or interest in land or houses but in other respects to deal with the same

as if my trustees or trustee were beneficially interested therein. I direct that the trustees or trustee shall be possessed of all my said property and the securities for the same upon the trusts following that is to say: - As to the houses Nos 327 and 328 Beach Road, Singapore, and the contents thereof of the nature of household furniture and effects upon trust to preserve and keep up the same as a family dwelling house and to permit the same to be used and enjoyed as a furnished dwelling house for the following persons namely my wives, sons, adopted sons and unmarried daughters, and the wives and children and adopted children of my sons and adopted sons until the expiration of the period hereinafter mentioned for the distribution of my estate.As to the rents of the houses Nos 329, 330 and 336 Beach Road, Singapore, upon trust to apply the net income derived therefrom in or towards the expenses of preserving and keeping up my family dwelling house as hereinbefore provided and for providing for the maintenance of the persons living therein from time to time until the expiration of the period aforesaid.As to the income of all my other property whatsoever and wheresoever whether real or personal, moveable or immoveable, upon trust thereout to remit one hundred dollars ($100) monthly to the head for the time being of my ancestral house at Tiong Poh Seah, in Amoy, for the maintenance and support of my family and the families of my brothers Tan Geok Peck deceased and Tan Hoon deceased.And as to the remainder upon trust to divide the same annually or periodically during every year as my trustees or trustee shall from time to time determine into ten equal shares and to pay one such share equally among the following persons in case they shall survive me or die in my lifetime leaving issue surviving me and so that in the latter case such share shall vest in their respective representatives as part of their estate in the same manner as if they had survived me and died immediately after me, namely my nephews Tan Kim Kew, Tan Chew Kim, Tan Keah Lye, Tan Wan Chye and Tan Teow Kee the sons of my deceased brother Tan Geok Peck, another my such shares equally among the following persons in case they shall survive me or die in my lifetime leaving issue surviving me and so that if in the latter case such share shall vest in their respective representatives as part of their estate in the same manner as if they had survived me and died immediately after me namely my nephews