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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.+ ?! k; k) @2 x( Y5 f( D2 ~: F; E
; r& G6 R' m+ w) [What Kinds of Interests in Land Are Restricted?' X. y, c F* J* E8 T1 A4 [
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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