Material From Original Gov't Discussion Paper
[ Summary of Farm Lands Ownership Act from original discussion papersource#1, Mb. Regs and guidelines p. 7 ]To preserve farmland for use by present and future generations of Canadians, Manitoba passed legislation in 1983 called the Farm Lands Ownership Act. By limiting speculation in farmland, the act helps maintain opportunities for Canadians to acquire Manitoba farmland for agricultural purposes, and supports the development of strong rural communities.
The act affects:
- non-Canadian individuals
- organizations totally, or partly owned by non-Canadians
- publicly traded companies and other organizations whose ownership is open to non-Canadians These parties must apply to the Farm Lands Ownership Board for an exemption to acquire an interest in more than 40 acres of farm land.
The issue of corporate farm ownership is covered by separate legislation dealing with companies and taxation. The vast majority of farmland is still owned by family farms, but many have incorporated, mainly for reasons of taxation and inheritance.
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Material From "Common Ground" Government Report
Other Material and References