Which of the following statements is correct under Section 8 of the SARFAESI Act, 2002?

Section 8 exempts qualifying section 7(1) receipts and transfers of security receipts from compulsory registration. For an issued receipt, the clause limits effects on immovable-property rights, apart from the specified undivided interest afforded by a registered instrument. It is not a blanket exemption for every document labelled a security receipt.