The eleventh amendment to The Maldives Tourism Act [Law no. 2/99] was enacted on July 3, 2022. 

The amendment establishes the procedures to calculate the market value of shares of tourism facilities leased under joint ventures to ensure the interests of all stakeholders in the event of repurchase or sale of shares. 

The amendment further empowers local councils to determine the market value of the land under their administrative jurisdiction in the most profitable way when being leased for tourism development.

The amendment also mandates the relevant ministry to draw up and publish all necessary regulations required by the amendment. 

The relevant ministry is also provided a 12 month period to revise the lease agreements of all tourism facilities as per the eleventh amendment.