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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./ d+ `# M$ b. _" P2 Q5 T6 M
X+ [( T" u- ]) i+ ^# ?( gWhat Kinds of Interests in Land Are Restricted?7 z1 C k2 m' s, _+ U1 g
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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