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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.3 h5 ~# O2 W6 n; x6 L
- p6 F+ T' }+ Z$ u/ E( D9 J. J$ ]1 m
What Kinds of Interests in Land Are Restricted?' k3 a1 @+ l* i7 o# t
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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