Clauses for insertion into the grant of a lease of commercial property (which is a "new" lease for the purpose of the Landlord and Tenant (Covenants) Act 1995) where: (a) the lease will be granted for a term of more than seven years from the date of grant; and (b) there is either an overseas entity landlord (whose title is registered and the landlord was registered as proprietor on or after 1 January 1999) or an overseas entity tenant (or both). In these circumstances, registration of the lease will be caught by the Economic Crime (Transparency and Enforcement) Act 2022 (ECTEA 2022) regime.

Some of these clauses may also be used on the grant of a lease for a term of more than seven years where neither the landlord nor tenant is an overseas entity (or the landlord is an overseas entity with an unregistered title or was registered as proprietor before 1 January 1999), but the parties wish to cover the possibility of the lease subsequently being assigned or underlet to an overseas entity.

This standard clause has been drafted as a set of "plug-in" clauses to fit into Standard document, Lease of whole: office, but can also be adapted for use in other commercial leases.

This standard clause contains guidance notes within the text (integrated drafting notes), drawing attention to specific issues.

For more information on the ECTEA 2022, see Practice note, Economic Crime (Transparency and Enforcement) Act 2022: property implications.