Paragraph 1 Application of this ScheduleF1

(1)

This Schedule applies in relation to an overseas entity if—

(a)

the entity—

(i)

is registered as an overseas entity when this Schedule comes into force or has been so registered at any earlier time, and

(ii)

was registered as the proprietor of a relevant interest in land in England and Wales or Scotland at any time during the relevant period, or

(b)

the entity has committed an offence under paragraph 5 of Schedule 3 or paragraph 10 of Schedule 4 (duty to register as overseas entity in certain transitional cases).

(2)

For the purposes of sub-paragraph (1)—

(a)

an overseas entity is registered as the proprietor of a relevant interest in land in England and Wales if the entity is registered in the register of title kept under the Land Registration Act 2002 as the proprietor of a qualifying estate within the meaning of Schedule 4A to that Act;

(b)

an overseas entity is registered as the proprietor of a relevant interest in land in Scotland if the entity—

(i)

is entered, on or after 8 December 2014, as proprietor in the proprietorship section of the title sheet for a plot of land that is registered in the Land Register of Scotland,

(ii)

in relation to a lease that was recorded in the General Register of Sasines or registered in the Land Register of Scotland before that date is, by virtue of an assignation of the lease registered in the Land Register of Scotland on or after that date, the tenant under the lease, or

(iii)

is the tenant under a lease that was registered in the Land Register of Scotland on or after that date.

(3)

Expressions used in sub-paragraph (2)(b) are to be construed in accordance with section 9(11) and (12).

(4)

In this Schedule “the relevant period” means the period—

(a)

beginning with 28 February 2022;

(b)

ending with 31 January 2023.

Annotations

Textual amendments

F1: Sch. 6 inserted (26.10.2023 for specified purposes) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b), Sch. 7 para. 4