Landholding by non-citizens

(1)A person who is not a citizen may hold land on the basis of leasehold tenure only, and any such lease, however granted, shall not exceed ninety-nine years.

(2)If a provision of any agreement, deed, conveyance or document of whatever nature purports to confer on a person who is not a citizen an interest in land greater than a ninety-nine year lease, the provision shall be regarded as conferring on the person a ninety-nine year leasehold interest, and no more.

(3)For purposes of this Article—

(a)a body corporate shall be regarded as a citizen only if the body corporate is wholly owned by one or more citizens; and

(b)property held in trust shall be regarded as being held by a citizen only if all of the beneficial interest of the trust is held by persons who are citizens.

(4)Parliament may enact legislation to make further provision for the operation of this Article.