Effective August 15, 1998 amendments to the Lands Protection Act were proclaimed which provide corporations and non-resident persons with an option to receive approval to hold a certain amount of land by way of lease prior to the lease(s) being arranged. This option is commonly referred to as "Global Leasing" and includes rented land. The process will allow applicants to receive approval for a maximum amount of land prior to an interest in land being acquired by lease(s). Details of the land that is the subject of the lease(s) will then be reported to the Commission prior to December 31 each year.

Pursuant to subsection 5.3(1) of the Act, a corporation or non-resident person has the option of applying for the specific land holding pursuant to section 4 or 5 of the Act; or applying pursuant to subsection 5.3(1)(b) for permission to acquire by lease a certain number of acres of land (global amount) as part of the applicant's aggregate land holding.

Where permission has been granted by the Lieutenant Governor in Council for a lease of land pursuant to subsection 5.3(1)(b), the corporation or non-resident person shall within one year of receiving permission and in every subsequent year prior to December 31, file a statement disclosing information on the parcel number, acreage leased and term of the lease or leases.

For further information regarding the procedure for making an application please contact:

Sandy Foy, Senior Land Officer
Island Regulatory and Appeals Commission
P. O. Box 577, 5th floor, National Bank Tower
134 Kent Street, Charlottetown PE C1A 7L1
Telephone (902) 892-3501
Toll Free 1-800-501-6268
Fax (902) 566-4076
e-mail irac@irac.pe.ca