Law No. (48) of 2012 on approving certain provisions on the registration of state property and real estate

Law No. (48) of 2012

on approving certain provisions

on the registration of state property and real estate

 

The National Transitional Council:

 

Upon review of:

  • The Victory Declaration of the 17 February Revolution issued on 22 February 2011;
  • The Decree forming the Interim National Transitional Council and specifying its competencies;
  • The Council's Rules of Procedure and internal regulations;
  • The Constitutional Declaration issued on 3 August 2011 and amendments thereto;
  • The Law of the Financial System of the State, and the budget, accounts, and stores regulations and amendments thereto;
  • Law No. (17) of 2010 on the registration of state property and real estate;
  • The content of the Council's meeting held on Tuesday, 29/05/2012;

has issued the following Law:

 

Article (1)

Pursuant to this Law, an authority called the "Real Estate Registration Authority" shall be established, which shall be a legal entity with financial autonomy affiliated to the Ministry of Justice.

The organisation, competencies, headquarters, and administration of this authority shall be set out under decrees issued by the Cabinet, without prejudice to the competencies and provisions set out in the aforementioned Law No. (17) of 2010.

 

Article (2)

Pursuant to this Law, an authority called the "State Property Authority" shall be established, which shall be a legal entity with financial autonomy affiliated to the Ministry of Finance.

The organisation, competencies, headquarters, and administration of this authority shall be set out under decrees issued by the Cabinet, without prejudice to the competencies and provisions set out in the legislation in force.

 

Article (3)

The Cabinet shall issue the decrees necessary to settle any assets, holdings, balances, and employees existing prior to when this Law (on the State Property and Real Estate Registration Authority) enters into force and distribute them to the two authorities established under this Law.

 

Article (4)

This Law shall come into force on the date of its issue and any provision conflicting with this Law shall be repealed. This Law shall be published in the Official Gazette and various media.

 

 

The Interim National Transitional Council – Libya

 

Issued in Benghazi

on 29/5/2012

 

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Text information

Text Type
Law
Text number
48
Text date
Institution
National Transitional Council (NTC)
Version of the text
This text is an original law
Text status
Applicable