The principal Act is amended by the insertion of a subsection (4(4)) on the power of the Investment Board to validate, on such terms and conditions as it may think fit, any purported conveyance, mortgage, transfer of mortgage or other acquisition of an interest in land made contrary to subsection (1) of section 4 by issuing a permit to the non-Bahamian. Subsection (1) of section 4 requires a non-Bahamian who wishes to acquire land or an interest in land either by way of freehold or leasehold, which acquisition is not within section 3(1), to obtain a permit from the Board.
Amends: International Persons Landholding Act, 1993 (Cap. 140). (2009)