Section 5, The Non-citizens (Interests in Land) Act, 1966

(1) Any conveyance, lease, grant, transfer, declaration, agreement, settlement or other disposition (other than an assent in favour of persons entitled under a Will or on an intestacy) which, apart from the provisions of this Act would have vested— (*a*) freehold land; or No. 30 *Non-Citizens (Intreests in Land)* 1966 (*b*) reserved leaseholds, where the purchaser has not been previously authorised by a licence issued under section 4, in a non-citizen (whether alone or together with any other person) shall vest such land (whether freehold or leasehold) in the Board for the whole estate or interest conferred by, or in virtue of, the instrument and the Board shall cause the Sheriff to sell the same by public auction. (2) If satisfied that failure to observe the law was due to genuine and excusable mistake or ignorance (whether of law or fact) the Board may either— (*a*) permit the parties to annul the transaction or modify it in such manner as may be approved by the Board and grant such licence as may be necessary in relation thereto; or (*b*) cause the Sheriff to sell the property by public auction and if it thinks fit cause to be paid out of the residual proceeds of the sale to the person or persons whose purchase of the freehold or leasehold land caused it to vest in the Board, a sum not exceeding the purchase price stipulated in the disposition which has been avoided (or in the case of a gift or exchange such sum as the Board shall think fit). (3) The proceeds of sale which have not been disposed of by paragraph (*b*) of subsection (2), after deducting— (*a*) the costs of the sale and (*b*) any payments which may have become due under a lease, vested in the Board by virtue of this section, shall be paid into the Consolidated Revenue Fund. [Margin: Instrum[illegible] not to be registere[illegible] unless p[illegible] visions c[illegible] this Act been ot[illegible] served.]