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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.$ ?& o# x1 c3 E( q7 R
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What Kinds of Interests in Land Are Restricted?! d4 k% Q% s& J# {" w! o8 `" X) O
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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