Part 1: Registration of Overseas Entities Schedule 3: Land ownership and transactions: England and Wales Part 1: Amendments to Land Registration Act 2002 Registration
Paragraph 2 of the new Schedule 4A prohibits the making of an application to register an overseas entity as the proprietor of a qualifying estate unless the entity is a "registered overseas entity" (i.e. is registered in the overseas entities register and has complied with update requirements under section 7 of the Act), or is an exempt overseas entity, at the time that the application is made to the HMLR.
	The effect of the provisions in paragraph 2 is that in England and Wales, an overseas entity will not be able to acquire legal title to qualifying estate without having complied with the registration and updating requirements under the Act at the time the application is made to HMLR.