Section 13E
⎯(1) Where it appears to the Majlis Mesyuarat Kerajaan
Negeri that⎯
(a)
it would be of economic benefit or an advantage to the
State; or
(b)
it would encourage or facilitate foreign investment into the State, that any area of State land or any area of alienated Mixed Zone Land is to be developed or has been developed for any of the following purposes, viz⎯
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(i)
holiday resort or such other projects for the promotion of the tourism industry in Sarawak;
(ii)
recreational centre;
(iii)
high-rise commercial complexes;
(iv)
industrial estates, including free zones, established under the Free Zones Act 1990 [Act 438], and housing accommodation for such industrial estates and free zones;
(v)
special residential areas for accommodation of foreign investors or foreign workers; or
(vi)
any development or to facilitate the development, of any area within a regional development corridor established under the
Regional
Corridors
Development
Authorities
Ordinance, 2006 [Cap. 64], the Majlis Mesyuarat Kerajaan Negeri may, by notification in the
Gazette, declare such area to be a Special Development (Exemption from Prohibition of Foreign Interests) Area, subject to such terms and conditions as may be stipulated in the notification.
[Am. Cap A136.]
(2)
Notwithstanding anything to the contrary in this Code or other written law relating to land, a foreign person, foreign company, foreign corporation or other foreign body may acquire an estate, interest or right in⎯
(a)
any land within a Special Development (Exemption from Prohibition of Foreign Interests) Area;
(b)
any of the individual parcels within a building which has been subdivided pursuant to the Strata Titles Ordinance, 1995
[Cap. 18], or the former Strata Titles Ordinance, 1974 [Ord. No.
3/74]; and
(c)
any land with a building thereon for residential purpose and the market value of such land and building is not less than such amount as may be determined by the Minister by a direction
*published in the Gazette.
[Sub. Cap. A29; Am. Cap. A61.]
*
Not less than RM300,000 (Ringgit Malaysia three hundred thousand) see Swk.
L.N. 114/98.
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