Part 1: Registration of Overseas Entities Schedule 3: Land ownership and transactions: England and Wales Part 2: Transition: qualifying estates registered pre-commencement
Part 2 of Schedule 3 makes provision about the transitional regime for those overseas entities that are registered proprietors of qualifying estate in England and Wales on the commencement date and became such proprietors in pursuance of an application made on or after 1 January 1999. This Part provides for a transitional period of six months in duration for overseas entities to either dispose of their qualifying estate or to register as a "registered overseas entity" under the provisions of the Act.