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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.& r6 r' @# {2 ^3 [- E3 k
! Y1 e J0 d- x+ Q* H0 r* uWhat Kinds of Interests in Land Are Restricted?/ z+ C) L' E' P2 @# J. Y' Y3 ]
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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