Schedule 4A, paragraph 3

The registrar must enter a restriction in the register in relation to a qualifying estate if satisfied that— an overseas entity is registered as the proprietor of the estate, and the entity became registered as the proprietor in pursuance of an application made on or after 1 January 1999. The restriction must prohibit the registration of any disposition within section 27(2)(a), (b)(i) or (f) unless— the entity is a registered overseas entity, or is an exempt overseas entity, at the time of the disposition, the disposition is made in pursuance of a statutory obligation or court order, or occurs by operation of law, the disposition is made in pursuance of a contract made before the restriction is entered in the register, the disposition is made in the exercise of a power of sale or leasing conferred on the proprietor of a registered charge or a receiver appointed by such a proprietor, the Secretary of State gives consent under paragraph 5 to the registration of the disposition, or the disposition is made by a specified insolvency practitioner in specified circumstances. In sub-paragraph (2), in paragraph (f)— “specified circumstances” means circumstances specified in regulations made by the Secretary of State for the purposes of that paragraph; “specified insolvency practitioner” means an insolvency practitioner of a description specified in regulations made by the Secretary of State for the purposes of that paragraph.

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Source: legislation.gov.uk · retrieved 2026-08-15