On 19/05/2013,
you requested for the version in force on 19/05/2013
incorporating all amendments published on or before 19/05/2013.
The closest version currently available is that of 31/07/2009.
27.
—(1) Where the Minister has at any time before or after 1st October 1982 —
(a)
granted his approval under section 25, 26 or 31 to any foreign person to purchase, acquire or retain any estate or interest in any residential property that is not non-restricted residential property;
(b)
exempted, pursuant to section 32, any foreign person from all or any of the provisions of this Act;
(c)
granted his approval under section 28 to any foreign person for a change of use of any land owned by that foreign person; or
(d)
granted his approval under section 28A to any foreign person for the development of any land,
subject to any condition imposed by the Minister and the Minister is satisfied that that person has failed to comply with the condition, he may, by direction in writing, require the person named therein to dispose of his estate or interest in the residential property by transferring his estate or interest to any citizen or approved purchaser within a period of not less than 6 months of the date of service of the direction by the Minister.
[9/2006]
(2) A direction given by the Minister under subsection (1) shall be served on the Controller and the person named therein and the subsisting mortgagees and chargees (if any) of the residential property who appear as such on the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be.
[9/2006]
(3) Where a person who has been directed under subsection (1) to dispose of his estate or interest in any residential property or land fails to satisfy the Controller that he has transferred his estate or interest within the period specified in subsection (1) or within any further period extended by the Minister, the Minister may issue to the Controller a notice to attach and sell the estate or interest in that residential property or land, and a copy of that notice shall be served on —
(a)
the owner of the residential property or land; and
(b)
each subsisting mortgagee or chargee (if any) who appears as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be.
[9/2006]