Section 33(3)

1 The Land Registration Act (Northern Ireland) 1970 is amended as follows.

2 After section 61 insert -

"61A Overseas entities

Schedule 8A is about the ownership of registered land by overseas entities and about registrable dispositions made by them."

3 After Schedule 8 insert -

"SCHEDULE 8A OVERSEAS ENTITIES

Section 61A

PART 1 REGISTRATION AND DISPOSITIONS

Meaning of "qualifying estate"

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 21 years from the date of grant.

Registration

2 No application may be made to register an overseas entity as the owner 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