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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.8 q% F6 J5 a6 U# t' O# k
7 `9 o% P3 Y% M! G) m6 h" Y3 eWhat Kinds of Interests in Land Are Restricted?
5 G4 K6 a7 x$ G! WThe 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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