40. Within the year following the date fixed under the Railway Act (chapter C-14) for the opening, for the public conveyance of passengers, of the railway or of the part of the railway hypothecated or affected by a mortgage or other privilege, in order to retain their rank as regards third parties, the registration of such rights must be effected by deposit in the registry offices of the proper divisions, in accordance with the provisions of section 29 of this act.
R. S. 1964, c. 275, s. 35.