s.154Prohibition on certain foreign bodies corporate holding land
154
Section 154Part 13 — Miscellaneous

Prohibition on certain foreign bodies corporate holding land

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Notwithstanding that it may be empowered to do so under the law of any other jurisdiction or by its memorandum of association (by whatsoever name so called) a body corporate (by whatsoever name so called) which is not —
an existing company, as defined in section 2(1) of the Companies Law (2018 Revision);
formed and registered under the Companies Law (2018 Revision); or
registered as a foreign company under Part IX of the Companies Law (2018 Revision),
has no power to be registered as a proprietor or in any other manner to hold land in the Islands.

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