A right-of-way on, over, or under land for the purposes defined under the definition of 'right-of-way' in section 2, granted or created by the Crown in right of the Province, or by any public officer or department of the Crown under any Statute having the force of law, or by an instrument executed by the registered owner of the land, or by an instrument having the same effect as if executed by the registered owner of the land, in favour of the Crown, a municipality, an improvement district, a railway, a public utility company, a pulp or timber company, a smelting company, or a company authorized to transport oil or gas, or both oil and gas, or solids as defined in the Pipe-Lines Act, upon registration of the instrument, constitutes a charge on the land in favour of the grantee, notwithstanding that the benefit of the right-of-way is not annexed to any land of the grantee, and confers upon the grantee the right to use the land charged in accordance with the terms of the grant, and all the terms, conditions, and covenants expressed in the grant are binding upon and inure to the benefit of the grantee, its successors and assigns, and the grantor, his heirs, personal representatives, successors and assigns, except in so far as a contrary intention appears.

No person who executes an instrument, whereby such a right-of-way as is referred to in subsection (1) is created, is liable for any breach of any covenant contained in the instrument after he has ceased to be owner of the land.

This section is retroactive in its application and applies to all instruments of the nature described in subsection (1) registered before as well as after the enactment of this section.