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The Regulations accomplish this intent by restricting the ownership of private land located outside of a city, town, village, or summer village (which the Act defines as controlled land) by foreign-controlled corporation and non-Canadian individuals, subject to certain exceptions and exemptions.! X+ v# _# E E" P
9 d+ Q- M4 N2 nWhat Kinds of Interests in Land Are Restricted?
- O( m9 e4 B+ b5 P6 N% gThe Regulations prohibit a foreign-controlled corporation or ineligible person from acquiring, directly or indirectly, an interest in controlled land which consists of more than two parcels, containing more than 20 acres in total. |
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