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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.6 e' K- v8 Y" z
; G4 \7 L+ W2 P1 e O7 VWhat Kinds of Interests in Land Are Restricted?
' M) f9 b% {; Q' L1 V* l" ]* P+ H( K% fThe 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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