Staff Reporter, Dhaka : The Ministry of Land has released a draft law titled ‘Foreign Voluntary Organizations (Regulation of Acquisition of Immovable Property) Act, 2023’ for public review and feedback. A public notification regarding this matter has been issued by the Ministry of Land.
Individuals who have comments and suggestions regarding the proposed draft law are invited to submit them in writing to the Acquisition-1 Wing of the Ministry of Land. Submissions can be made via post or email at acquisition1mol@gmail.com, and they should reach the ministry by 11 September 2023.
As per the draft law, no foreign voluntary organization can acquire any immovable property within Bangladesh through purchase, donation, exchange, or any other means without the prior approval of the government. The draft also stipulates that if any foreign voluntary organization acquires any immovable property within Bangladesh in violation of this provision, the property can be confiscated by the government, and the confiscated property will be handed over to the government without any encumbrances.
In the draft law, a foreign voluntary organization refers to an organization or authority that may or may not be a corporation. Such organizations may be formed or established in any country outside Bangladesh. According to the interpretation of the draft law, the purpose of these foreign voluntary organizations is to serve any person, organization, or authority within Bangladesh or to conduct voluntary activities.
If ‘The Foreign Voluntary Organizations (Acquisition of Immovable Property) Act, 2023’ is enacted in Parliament, it will replace the ‘Foreign Voluntary Organizations (Acquisition of Immovable Property) Regulation Ordinance, 1983’.