Act 16
Land Act
1998
(8) For purposes of subsection (7) of this section,
"controlling interest" means( a) in the case of companies with shares, the majority shares
are held by persons who are not citizens; and
(b) in the case of companies without shares, a company
in which decisions are arrived at by the majority
who are not citizens.
Land Fund.
42. ( 1) There shall be a Fund to be known as the Land Fund.
(2) Subject to the provisions of this section, the Land
Fund shall be managed by the Commission.
(3) The monies to form part of the Land Fund shall be
derived from the following sources( a) monies appropriated by Parliament;
( b) loans obtained by Government;
( c) grants from any donors;
( d) any monies paid into the Fund under this Act;
( e) any other source approved by the Minister in writing
in consultation with the Minister responsible for
finance.
(4) The Fund shall be utilised as follows( a) to give loans to tenants by occupancy to enable them
to acquire registrable interests pursuant to
paragraph (b) of clause (9) of article 237 of the
Constitution;
( b) by Government to purchase or acquire registered
land to enable tenants by occupancy to acquire
registrable interests pursuant to the Constitution;
( c) to resettle persons who have been rendered landless
by Government action, natural disaster or any
other cause;
(d) to assist other persons to acquire titles.
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