F1SCHEDULE 1ALand transactions: overseas entities

Annotations:
Amendments (Textual)

5Case where Keeper must reject prescriptive application

1

This paragraph applies where—

a

an application under section 21 is received by the Keeper by virtue of section 43(1) or (5), and

b

if the application is accepted by the Keeper—

i

the name of an overseas entity would be entered as proprietor in the proprietorship section of the title sheet of a registered plot of land, and

ii

that entry would be marked as provisional under section 44(1).

2

The Keeper must reject the application unless the overseas entity is—

a

a registered overseas entity, or

b

an exempt overseas entity.