Regulation No. 3 on the procedures for lending undivided agricultural lands.

This Regulation establishes the Board for Lending Undivided Agricultural Lands and lays down its composition and rules of procedure. The Board’s activities are subjected to the Civil Code and to Law No. 8312 of 1998 on non-divided lands. Its tasks include the duty to continuously inform about the availability of the undivided agricultural lands; to guarantee the observation of competition rules in the land auctions; and to award the auction contracts. Undivided agricultural lands are lend to physical and legal entities, local or international, to be used and exploited for agricultural and livestock activities. If more than two requests are submitted for the same land, the contractor will be chosen through auction procedures. The lending can go up to 99 years for planting of vineyards, fruit plants and olive trees.