This Act provides with respect to the application for and the granting of loans for an agricultural purpose, or for a purpose declared under section 39 to be an approved purpose, the security necessary for the support of such loans and relative proof of title of rights in land.
The Act provides with respect to the holding of rights in land and mortgages by foreigners in Grenada. It also provides for forfeiture of illegally-held land and shares of companies that do not comply with the provisions of this Act. The Minister may, if he or she thinks fit, from time to time, grant to any alien a licence to hold land as owner or tenant for any estate or interest either subject to any condition (or not) or grant to an alien a licence to hold land as mortgagee for any estate or interest therein.
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