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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.: b+ X, e; ], W- z% @$ N
/ U$ Z+ f% l" j# W9 \What Kinds of Interests in Land Are Restricted?7 |: U0 ^8 [5 V$ {
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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