48 tal-1993

L.N. 48 01 199J

IMMOVABLE PROPERTY

(ACQUISITION BV NON RESIDE/'oTS) "Cf

(CAP. 2.(6)

11IlIDD ..... P,opaty (Desipalioa oISped" Arus)

I«gul.Itlons , 1993

IN VIRTU E of lhe powc~ con ferred by section 7 of ,he

Immovable Prope rty(Acquisi tion by Noo Residen .s) Act , the Mini!>'e r

of Finance has made the following rcgulalioll$:-

I . 1lIcK regulations may be ci ted as the lmmov3blc Pl ope n y CII.o .....

(Designation of Special Areas) Regulations, 1993.

( I ) Thc Minislcrmay byOrderdesignaleanyareai nM allaas ~oI

I Design ated Special A rea for the purposes oflhese regulatio ns.

(2) A Designated Special Area sh all be defined eilher by

refe rence 10 the boundaries se l ou t in llie Order o r by reference 10 a plan

or map reMained in or referred to in the Order.

J. In an y O rder made in a~rdan.ce with regulation 2 of IIIese

regulat ions the Min;ster sh all lay do wn the fol lowi ng

the Qltcgory of no'H'csidenl pcnons 10 whQm the O rder Se 001_

(a)

applies;

(b) the category of immovable property !ii1Uilte in the

Designated Special Area to which the Order applies

(e) t he COf1di,ion~ unckr which immovahk property in (he

Designated Special Area may be transferred (0. and acquired by

non-residen t perKIns. includi ng the uses that may be made 0( such

immovable property and the condi tions under which such uses mly

be madc;

(d) the form of the applionion and the documcntsthat arc t"

be presented wit h any application by a non-rcside nt pel'$l)O 10

acq uire immovable PTOpC rty in the Designated Special A rea;

(e) the ti lle unde r which such immovable prope rt y may or

may not be aequircd by. non-resident pCl'$OO;

(I) the uSC whkh l ut h immov,ble prope rty may be made of

by the perKIn acquiring il; and

(,) the f«li that arc to beraid for lhe issucor .. permit by lhe

Minis!er for lhe KquiSlion 0 immovable property by a non-

relidcnl person in the Designated Special Ares .

Upon the pilyment of tile preiCTibed fcc. by the applicant the

Minister shall nOI withhold hi s permi$Sion for the acquisi lioo by I non-

resident person of an immovable properly situate in a Designated

Spe~ial Arca whe re the immovable properly alld the non-resi<knt

persons both bt:long to the respective categories indicated in the Order

relative to Ihe Designated Special Area , and the application is

a«'Ompanied by the documents and all other information prucribed in

the Order , and in any such case the permi"",n shaLl be deemed to have

b«n ."'nted unde r the oondilions (including oonditions as to use) as

may be litated in the Order.

Any Order made by lhe Min ister in virtue of these regul ations

may pre5Cfibe tha t

(a)

Ihe immovables in the Designated Special Areas or the

common o . public areaS Or utilities in the De$ignated Special A rea .

shall be managed by such management oompl'lny oomplying with

such ronditions as may be set QUI in the Order and rcwgnised by

the Ministe r for the purpose: aoo. or

(b) that the propeny may only be Icttoth ird parl ies through

such leUing or manag""",nt company complyin, wi th such

condit ions as may be set out in the Order . 00 rcwgnised by the

Minister for the putpce.

l1Ic Mi nister may only designate an area as a DeSignated

Special Area whe:re he is satisfIed that it is in the public InlerestliO lodo

because Ihe ImrllOYable propeny situate in Ihe area fomlS p;!rI of a

project or pro;c:cts ~imed at enhancing the lourin induslrY or Malta's

potentiai u In inlernalional cc nlre for trade, commerce or se rvices.