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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.% e7 [: p1 m! B
: R6 u. }1 E R1 w4 h8 ]6 @What Kinds of Interests in Land Are Restricted?# w0 W3 H9 E$ C7 s2 u; {# Y
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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