Aliens Landholding Regulation (Amendment) Act, 2015 (No. 17 of 2015).

The Act amends the Aliens Landholding Regulation Act by inserting a new section 5A on obligations of aliens who acquire land under section 5. On acquiring land, under section 5 for an approved development the alien shall - (a) make an application for development permission under the Physical Planning Act, 2002 within six months of acquiring the land; and (b) commence construction of the approved development within one year of receipt of development permission under the Physical Planning Act, 2002. “Approved development” means a tourism real estate development or other new development project with a minimum investment of three million dollars that has been approved by Cabinet.