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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.+ i+ B( X3 q& ]: e; U9 p
! O5 X% z: M% y Z! N2 j7 ^" ^9 G! cWhat Kinds of Interests in Land Are Restricted?1 b) @* [8 D4 Q- D
The 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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