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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.1 T' A2 v% m! V; h: N* b9 |1 v! C6 ~
( N* C% W2 @* V' v: lWhat Kinds of Interests in Land Are Restricted?6 g% c$ A2 W. B0 q, Z! 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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