The law of December 23, 2021, seeks to regulate access to land while establishing control over the transfer of shares and, more broadly, any changes in the distribution of share capital in companies that own real estate for agricultural use or purposes.
Two criteria triggering administrative control:
"The takeover" of a company by an individual or legal entity: This aims to identify the holder of management and administrative powers within the company.
Exceeding a significant expansion threshold.
What are the authorization procedures?
The procedure may take place in two stages if the above conditions are met:
A request for authorization must first be submitted to SAFER (Land Development and Rural Establishment Company).
The prefect will then decide whether the operation is justified. If authorization is denied, the administrative authority must notify you of the refusal.
What are the sanctions?
The nullification of the operation.
A fine in the form of an administrative penalty.
To avoid any sanctions, it is essential to anticipate and properly prepare your application!
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