(1) An alien investor shall —
(a) subject to subsection (2), register the alien landholding licence, within 90 days of issuance of an alien landholding licence, at the office of the Registrar of Lands to vest an interest in land in the alien;
(b) where the alien intends to construct a building or develop the land specified in the alien landholding licence, make an application, within one year of obtaining an alien landholding licence, to the Physical Planning and Development Division and the Development Control Authority for approval prior to constructing a building or developing the land;
(c) where an alien investor intends to build, purchase or acquire the whole or part of a commercial building, commence operations within 6 months of the construction, purchase or acquisition of the building;
(d) where an alien investor commences operations of a business, that alien investor shall not cease operations for a continuous period of more than 6 months;
(e) where the alien intends to trade or carry on a business, obtain a trade licence under the Trade Licences Act prior to trading or carrying on a business in Saint Lucia;
(f) use the land for the purpose for which the licence issued under the former Act or an alien landholding licence was granted.
(2) Without prejudice to the Land Registration Act the Registrar of Lands shall not register an interest in land under subsection (1)(a) without proof of —
(a) a valid licence issued under the former Act or an alien landholding licence;
(b) the payment of the stamp duties payable under the Stamp Duty Act.