(1) Where the laws of a Member State, exempts a citizen of Saint Lucia from the requirement of obtaining an alien landholding licence to own, acquire or lease land in that Member State, Cabinet may, by Order published in the Gazette, exempt a national of the Member State from the requirement of obtaining an alien landholding licence.
(2) Cabinet may, by Order published in the Gazette, exempt an alien from this Act —
(a) where the alien is a party to an agreement or plan entered into with the Government for financing the holding and development of housing, industry, tourism, forestry, fisheries or agriculture;
(b) where the alien in conjunction with the Government embarks on an undertaking that has been approved by Cabinet;
I where the alien is trading on the Eastern Caribbean Securities Exchange Limited licensed under section 8 of the Securities Act or any other recognized securities exchange in a Member State.
(3) An order issued under subsection (2) may be issued subject to any condition that Cabinet considers necessary and shall relate to a particular alien or to a particular interest in land or to both.