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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.5 Z" E; m' Z4 g4 C) b
) R( R0 B$ b8 V6 g" _. AWhat Kinds of Interests in Land Are Restricted?, {+ b: x" H7 i N2 g' T. v
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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