Companies Act, 1973 (Act No. 61 of 1973)

Chapter XIII: External Companies

Registration

324. Power of external company to own immovable property in Republic
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1)Save as may be expressly provided in any other law, an external company of which the memorandum has been registered under section 322 shall have the same power to own immovable property in the Republic as if it were a company incorporated in the Republic.

 

2)As from a date three months after the commencement of this Act, no external company shall be capable of acquiring the ownership of immovable property in the Republic unless its memorandum has been or is deemed to be registered under section 322.