Overseas Investment Act 2005

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Exemptions in respect of overseas investments in sensitive land that is residential (but not otherwise sensitive) land

3 Residential tenancy for less than 5 years

(1)

A transaction does not require consent for the purposes of section 10(1)(a) to the extent that it will result in an overseas investment in sensitive land if—

(a)

the estate or interest in land described in section 12(1)(a) is a residential tenancy for a term of less than 5 years (including rights of renewal, whether of the grantor or grantee); and

(b)

the relevant land is residential (but not otherwise sensitive) land.

(2)

In this clause, residential tenancy means a tenancy to which the Residential Tenancies Act 1986 applies (including a periodic tenancy within the meaning of section 2(1) of that Act).

Schedule 3 clause 3(1)(a): amended, on 16 June 2020, by section 56(3) of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).