On 22/05/2013,
you requested for the version in force on 22/05/2013
incorporating all amendments published on or before 22/05/2013.
The closest version currently available is that of 17/01/2011.
14C.
—(1) Any approval granted by the Minister or the Controller, as the case may be, under section 25 or 26 to a foreign company or a converted foreign company to purchase, acquire or retain residential property that is not non-restricted residential property and which is valid immediately before the date of registration of the conversion of the foreign company or the converted foreign company to a foreign limited liability partnership shall continue in force on and after that date as if it were an approval granted by the Minister or the Controller, as the case may be, to the foreign limited liability partnership; and —
(a)
if the approval was granted subject to conditions, the foreign limited liability partnership shall comply with all the conditions imposed as if the approval had been granted to the foreign limited liability partnership instead of the foreign company or the converted foreign company; and
(b)
if any undertaking in writing was given by the foreign company or the converted foreign company, such undertaking in writing shall be deemed to be an undertaking in writing given by the foreign limited liability partnership and shall be enforceable against the foreign limited liability partnership as if it had been given by the foreign limited liability partnership instead of the foreign company or the converted foreign company.
[17/2005; 9/2006]
(2) The foreign limited liability partnership referred to in subsection (1) shall, as soon as practicable after the date of registration of the conversion thereto, notify the Controller of the conversion and of the particulars of the foreign limited liability partnership, including the nationality of its partners and such other particulars as the Controller may require.
[17/2005]