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Land Ownership Reforms in Papua New Guinea Revealed

Kuala Lumpur, Malaysia - In a shocking revelation, the Papua New Guinea government has finally lifted the veil on its land ownership policies, providing unprecedented transparency into the country’s real estate market.

Land Ownership Policies

According to the Land (Ownership of Freeholds) Act, non-citizens are no longer prohibited from owning freehold land in PNG. However, freehold land can be converted to leasehold land for use by non-citizens. Leasehold land, which is acquired from customary owners and leased to individuals or companies for up to 99 years, can be more freely dealt with than freehold land.

The government has also revealed the exact location of land parcels, their dimensions, and the present owner or lessee.
Subleases and mortgages subjecting the title are also disclosed.

Dealings in Land

Dealings in land may require approval from the Minister for Lands, according to the Land Act. The act provides for various types of leases, including: + Agricultural + Pastoral + Business + Residential + Mission + Special purpose leases

Patents and Industrial Design

The Patents and Industrial Design Act 2002 has come into effect, introducing legislation protecting patents and industrial designs in PNG. Under the act: + A patent expires 20 years after filing date, with annual renewal fees payable commencing one year later. + The act also recognizes priority rights under the Paris Convention for the Protection of Industrial Property.

Resource Ownership

The government has reiterated its ownership of oil, petroleum, natural gas, gold, silver, copper, and other minerals in PNG. A constitutional challenge to the predecessor of the current Mining Act 1992 was dismissed without making a decision on its merits, with the point not settled beyond doubt.

Mining

Mining Act 1992

The law outlines a detailed regime governing mining tenements, including: + Exploration licenses + Special mining leases + Mining leases + Alluvial mining leases + Mining easements

The law also sets out terms for license conditions, making mining development contracts, paying rents, fees, and royalties, registering transfers and dealings in tenements, and compensating landowners.

Register of Tenements

The Mineral Resources Authority (MRA) maintains a register of tenements containing details of applications, grants, and refusals. Any dealing in a legal or equitable interest in a mining tenement must be approved by the Minister for Mining and registered before taking effect.

Compensation

Tenement holders are liable to compensate landowners, adjoining land, and improvements for entry onto or occupation of land. Compensation arrangements must be finalized before occupancy.

Hydrocarbons

Exploration and Development

The exploration and development of oil, petroleum, and gas are regulated under the Oil and Gas Act 1998, which vests ownership in the state. The act sets out a comprehensive regime governing petroleum licenses, including: + Prospecting + Retention + Development + Pipeline + Petrochemical licenses

Conclusion

This unprecedented transparency is expected to boost investor confidence in PNG’s real estate market and promote sustainable development.