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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 a5 ^2 Y @$ O/ p* Q, L6 G
6 x/ s9 U, M2 R- n aWhat Kinds of Interests in Land Are Restricted?+ ^- N" ~6 p7 N k
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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