 TO: CORPORATIONS AND NON-RESIDENT PERSONS ACQUIRING AN INTEREST IN LAND IN PRINCE EDWARD ISLAND The failure of corporations or non-resident persons to obtain Executive Council approval to acquire an interest in land (i.e. through purchase, lease, transfer, share purchase, rental arrangement etc.) pursuant to sections 4, 5 or 5.3 of the Lands Protection Act, constitutes a contravention of the Act and is liable to a penalty imposed by the Commission of not more than $10,000.
The Island Regulatory and Appeals Commission Posted: 2010/01/19 |
