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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.2 F) W# l9 ?; s; C+ q6 F5 E5 A% e. H. j
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What Kinds of Interests in Land Are Restricted?
3 A O( |+ \0 }5 N; H" oThe 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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