Real Property (Transfer Tax, Charging and Related Provisions) (Sark) (Amendment) Law, 2019

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PROJET DE LOI

ENTITLED

The Real Property (Transfer Tax, Charging and Related Provisions) (Sark) (Amendment) Law, 2019

THE CHIEF PLEAS OF SARK, in pursuance of their Resolution of the 1^st May, 2019, have approved the following provisions which, subject to the Sanction of Her Most Excellent Majesty in Council, shall have force of law in Sark.

Amendment of 2007 Law.

1. Section 11 of the Real Property (Transfer Tax, Charging and Related Provisions) (Sark) Law, 2007[a] is amended as follows.

2. Immediately after subsection (5) of the said section 11, insert the following –

"(6) An Ordinance under this section may –

(a) revoke, amend, extend, adapt, modify or dis-apply (so far as it has effect in Sark) any enactment or rule of customary law,

(b) without prejudice to the generality of paragraph (a), amend the definition of "long leasehold interest" for the purposes of this section and any Ordinance made thereunder,

(c) notwithstanding that the effect of the Ordinance is to provide that long leasehold interests are to be treated as or deemed to be real property for the purposes of this section, provide that such interests are to be personal or movable property for the purposes of succession or any other purpose,

(d) make provision as to –

(i) the enforcement of covenants, conditions, options and rights (whether of pre-emption or otherwise) by the original parties to the agreement by which they were created and by their respective successors in title and assigns,

(ii) joint interests in long leasehold interests, and agreements in respect of such joint interests, and the termination or severance of such joint interests and the consequences thereof, and

(iii) the remedies available to the parties to any agreement concerning long leasehold interests including (without limitation) declarations, injunctions, specific performance, rectification and rescission.

(7) Where any Ordinance proposed to be made under subsection (1) includes provision revoking, amending, extending, adapting, modifying or dis-applying (in its application to Sark) any Order of the Royal Court, the Royal Court must consent to the inclusion of such provision prior to the Ordinance being submitted for approval to the Chief Pleas.".

Citation.

3. This Law may be cited as the Real Property (Transfer Tax, Charging and Related Provisions) (Sark) (Amendment) Law, 2019.

Commencement.

4. This Law shall come into force on the day appointed by Ordinance of the Chief Pleas; and different dates may be appointed for different provisions and for different purposes.

[a]	Order in Council No. VI of 2008; amended by No. XXIII of 2010.