Economic Crime (Transparency and Enforcement) Act 2022 · PART 1 Registration of overseas entities

33 Land ownership and transactions

s. 33 · in force: yes

Captured statutory text (L5)

33 Land ownership and transactions

(1)Schedule 3 contains amendments about—

(a)the ownership of registered land in England and Wales by overseas entities, and

(b)land transactions in England and Wales involving overseas entities.

(2)Schedule 4—

(a)makes similar provision for Scotland, and

(b)confers a related power to make further or alternative provision (see Part 3 of the Schedule).

(3)Schedule 5 makes similar provision for Northern Ireland.

(4)The Secretary of State may by regulations amend Schedule 8A to the Land Registration Act (Northern Ireland) 1970 (inserted by Schedule 5 to this Act) to make provision similar or corresponding to the provision made by paragraphs 3(2)(e), 4(2)(e) and 5 of Schedule 4A to the Land Registration Act 2002 (inserted by Schedule 3 to this Act) (including the provision to make subordinate legislation).

(5)The provision which may be made by regulations under subsection (4) by virtue of section 67(3) includes provision amending other provisions of the Land Registration (Northern Ireland) Act 1970.

(6)The Secretary of State must consult the Department of Finance in Northern Ireland before making regulations under subsection (4).

(7)Regulations under subsection (4) are subject to the affirmative resolution procedure.

Full captured verbatim text

(1) Schedule 3 contains amendments about—

(a) the ownership of registered land in England and Wales by overseas entities, and

(b) land transactions in England and Wales involving overseas entities.

(2) Schedule 4—

(a) makes similar provision for Scotland, and

(b) confers a related power to make further or alternative provision (see Part 3 of the Schedule).

(3) Schedule 5 makes similar provision for Northern Ireland.

(4) The Secretary of State may by regulations amend Schedule 8A to the Land Registration Act (Northern Ireland) 1970 (inserted by Schedule 5 to this Act) to make provision similar or corresponding to the provision made by paragraphs 3(2)(e), 4(2)(e) and 5 of Schedule 4A to the Land Registration Act 2002 (inserted by Schedule 3 to this Act) (including the provision to make subordinate legislation).

(5) The provision which may be made by regulations under subsection (4) by virtue of section 67(3) includes provision amending other provisions of the Land Registration (Northern Ireland) Act 1970.

(6) The Secretary of State must consult the Department of Finance in Northern Ireland before making regulations under subsection (4).

(7) Regulations under subsection (4) are subject to the affirmative resolution procedure.

What this provision means

Model summary, checked against the text on the left.

L3 unavailable.

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Refers to

schedule ref schedule_ref · Sch. 3 para. 1

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schedule ref schedule_ref · Sch. 4 para. 1

schedule ref schedule_ref · Sch. 4 para. 10

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schedule ref schedule_ref · Sch. 4 para. 9

schedule ref schedule_ref · Sch. 5 para. 1

schedule ref schedule_ref · Sch. 5 para. 2

schedule ref schedule_ref · Sch. 5 para. 3

cross-reference internal_cite · s. 33

cross-reference internal_cite · s. 67

Referred to by

cross-reference internal_cite · s. 1

cross-reference internal_cite · s. 33

cross-reference internal_cite · s. 68

Part summaries

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Verification findings (173)

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Instrument tier unavailable

Change history as published

S. 29 omitted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by virtue of Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 170(1)(b), 219(1)(2)(b); S.I. 2024/269, reg. 2(z54)

S. 29A omitted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by virtue of Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 170(1)(b), 219(1)(2)(b); S.I. 2024/269, reg. 2(z54)

Pending effects amendments not yet applied to this text

No captured pending effects.

Provenance

Every claim the system makes about this text is traceable to these identifiers.

Instrument: uk:ukpga/2022/10
Part: PART 1 Registration of overseas entities
Version: 182e65dd10498ae86ea06030…
Content hash: sha256 305f4ca78cf0476f5f3891c4…
Source: legislation.gov.uk/ukpga/2022/10