Paragraph 4 Registrable dispositions by overseas entity entitled to be registered (but not registered)F1
Northern Ireland
This paragraph applies where—
an overseas entity is entitled to be registered as the owner of a qualifying estate,
the overseas entity became entitled to be registered as the owner of that estate on or after the day on which this paragraph comes into force, and
the entity makes a disposition mentioned in subparagraph (2).
The dispositions are—
a transfer of the owner’s estate,
a grant of a leasehold estate where the term granted exceeds 21 years, and
the creation of a charge on the land.
The disposition must not be registered unless—
the entity is a registered overseas entity, or is an exempt overseas entity, at the time of the disposition,
the disposition is made in pursuance of a statutory obligation or court order, or occurs by operation of law,
the disposition is made in pursuance of a contract made before the overseas entity became entitled to be registered,
the disposition is made in the exercise of a power of sale or leasing conferred on the owner of a registered charge or a receiver appointed by such an owner, F2...
the Secretary of State gives consent under paragraph 4A to the registration of the disposition, or
the disposition is made by a specified insolvency practitioner in specified circumstances.
In sub-paragraph (3)(e) “specified circumstances” and “specified insolvency practitioner” have the meanings given by paragraph 3(6).
Annotations
Textual amendments
- F1
Sch. 8A inserted (5.9.2022) by Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), s. 69(1), Sch. 5 para. 3; S.I. 2022/876, reg. 4(c)
- F2
Word in Sch. 8A para. 4(3)(d) omitted (23.6.2023) by virtue of The Register of Overseas Entities (Penalties and Northern Ireland Dispositions) Regulations 2023 (S.I. 2023/696), regs. 1(1), 10(4)(a)
- F3
Sch. 8A para. 4(3)(da) inserted (23.6.2023) by The Register of Overseas Entities (Penalties and Northern Ireland Dispositions) Regulations 2023 (S.I. 2023/696), regs. 1(1), 10(4)(b)
Notes on the whole Act
Textual amendments
- F1
Words in preamble of Act substituted (1.10.2009) by Constitutional Reform Act 2005 (c. 4), ss. 59(5), 148(1), Sch. 11 para. 6; S.I. 2009/1604, art. 2(d)
Notes on Schedule 8A
Modifications
- C1
Sch. 8A: power to amend conferred (5.9.2022) by Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), s. 33(4)-(6), 69(1); S.I. 2022/876, reg. 4(a)