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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.& d+ }. ~% n7 d2 v/ D
4 g7 T3 p9 o# J; uWhat Kinds of Interests in Land Are Restricted?
9 @4 ~6 \$ L9 R9 u! O0 kThe 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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