Where a caveat has been lodged by or on behalf of a beneficiary claiming under a will or settlement and a change in the proprietorship of or a transfer or other dealing with or affecting the land, estate or interest in respect of which the caveat was lodged is presented for registration, the same may, notwithstanding section 125, be registered without the caveat being withdrawn and without determining the operation of the caveat, provided the Registrar is of opinion that such change of proprietorship or such transfer or other dealing is authorised by the will or settlement and the caveator either consents to the registration or does not lodge a written protest against the registration within fourteen days after being served with notice as such caveator.