Resource information
The Act provides the restrictions on the acquisition of immovables used as profit yielding land arising from public interest and the restrictions on the acquisition of immovables arising from national security reasons. For the purposes of the Act, public interest is, in particular, development of the management for specific purposes and sustainable management of immovables used as profit yielding land which contain agricultural and forest land. For the purposes of the Act, agricultural land is a land parcel in the land use type category of land under cultivation or natural grassland or both such lands of an immovable used as profit yielding land or a part thereof. For the purposes of the Act, forest land is a land parcel in the land use type category of forest land of an immovable used as profit yielding land or a part thereof. The land use type categories of an immovable to be acquired are determined on the basis of land cadastre data. Any transaction which is in violation of the restrictions on the acquisition of immovables provided for in this Act is void.
Repeals: Restrictions on Acquisition of Immovables Act. (2005-05-17)
