SCHEDULES

SCHEDULE 3Land ownership and transactions: England and Wales

PART 2Transition: qualifying estates registered pre-commencement

I1I26Registrar’s duty to enter restriction in relation to qualifying estate

1

This paragraph applies where the Chief Land Registrar is satisfied that—

a

an overseas entity is the registered proprietor of a qualifying estate, and

b

the entity became the registered proprietor of that estate in pursuance of an application made before the commencement date.

2

The Chief Land Registrar must comply with the duty to enter a restriction under paragraph 3 of Schedule 4A to the Land Registration Act 2002 (inserted by Part 1 of this Schedule) in relation to the estate as soon as reasonably practicable and in any event before the end of the transitional period.

3

But the restriction does not take effect until the end of the transitional period.