It was stated in John Alexander's Clubs Pty Ltd v White City Tennis Club Ltd (2010) 241 CLR 42: The text of s 43A [of the Real Property Act 1900 (NSW)] is so drawn as to have given rise to notorious difficulties in construction. However, it is now settled that the provision is directed to the protection before registration of an interest under a registrable instrument and confers upon the holder of that interest the same protection against notice of an earlier unregistered interest as that which is achieved by a purchaser who acquires the legal estate at common law. By this means there is introduced into the administration in New South Wales of the Torrens system an analogy to the doctrine of bona fide purchaser as a means of regulating priorities between competing claimants to registration of unregistered dealings. With reference to legal authority, analyse this statement