Transfer fee on leases

(1) There shall be paid by every lessee of national land a transfer fee at the following rates on the value of the development or improvement done on the leasehold or of the amount of the consideration whichever is greater, in respect of every transfer of subletting of lease outside the compulsory registration areas declared as such under the Registered Land ActCAP. 194. (a) Where the value or consideration exceeds two thousand dollars but does not exceed fifteen thousand dollars - three per centum of the value or the consideration; National Lands 7 (b) Where the value or consideration exceeds fifteen thousand dollars - five per centum of the value or the consideration. CAP. 144. Revised Edition 1980-1990. (2) Where lease is transferred or sublet to a person who is an alien within the meaning of the Aliens Landholding Act, there shall be paid in addition to the fee specified in subparagraph (1) an additional fee at the rate of three per centum of the value or the amount of the consideration, as the case may be. CAP. 179. Revised Edition 2003. (3) Paragraph (2) above shall apply to transactions that occurred before the commencement of the Aliens Landholding (Repeal) Act. MADE by the Minister of Natural Resources this 15th day of October, 1992. (FLORENCIO MARIN) Minister of Natural Resources __________