[SCHEDULE 4A Overseas Entities]
Land Registration Act 2002 (2002 c 9) | Legislation

[SCHEDULE 4A Overseas Entities]

[Section 85A]

[Meaning of “qualifying estateâ€

1

In this Schedule “qualifying estate†means—

(a)     a freehold estate in land, or

(b)     a leasehold estate in land granted for a term of more than seven years from the date of grant.

Registration

2

No application may be made to register an overseas entity as the proprietor of a qualifying estate unless, at the time of the application, the entity—

(a)     is a registered overseas entity, or

(b)     is an exempt overseas entity.

Restrictions on disposal

3

(1)     The registrar must enter a restriction in the register in relation to a qualifying estate if satisfied that—

(a)     an overseas entity is registered as the proprietor of the estate, and

(b)     the entity became registered as the proprietor in pursuance of an application made on or after 1 January 1999.

(2)     The restriction must prohibit the registration of any disposition within section 27(2)(a), (b)(i) or (f) unless—

(a)     the entity is a registered overseas entity, or is an exempt overseas entity, at the time of the disposition,

(b)     the disposition is made in pursuance of a statutory obligation

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