Foreign Ownership of Land Regulations — 2
2 In these Regulations, Act means the Citizenship Act (Canada); ( Loi ) controlled land means land in Alberta but does not include (a) land of the Crown in right of Alberta; (b) land within the boundaries of a city, town, new town, village or summer village, and (c) mines and minerals; ( terrain réglementé ) corporation means a corporation with or without share capital; ( société ) foreign controlled corporation means (a) a corporation incorporated elsewhere than in Canada, (b) in the case of a public corporation whose shares are not traded on a stock exchange in Canada or a private corporation, a corporation (i) the percentage of foreign ownership of which calculated under section 13 is 50% or greater, or (ii) that is the last in a succession of corporations the outstanding shares of each of which are more than 50% owned by its predecessor in the succession of corporations if the outstanding shares of any of the corporations in the succession are more than 50% held by ineligible persons or by any other corporation the percentage of foreign ownership of which calculated under section 13 is 50% or greater, or (c) in the case of a public corporation whose shares are traded on a stock exchange in Canada, a corporation (i) less than 2/3 of whose directors are Canadian citizens or permanent residents, or (ii) in which 50% or more of its outstanding shares are held in blocks of 5% or more by ineligible persons or corporations the percentage of foreign ownership of which calculated under section 13 is 50% or greater; ( société sous contrôle étranger ) ineligible person means (a) an individual who is not a Canadian citizen or a permanent resident, (b) the government of a country other than Canada or a political subdivision of a country other than Canada, or any agency of such government or political subdivision, or (c) a corporation incorporated elsewhere than in Canada; ( personne inéligible ) limited partnership means a limited partnership to which The Partnership Act (Alberta) applies or to which sections 48 to 66 of chapter 230 of the Revised Statutes of Alberta, 1955 continue to apply; ( société en commandite ) Minister means the Associate Minister of Public Lands and Wildlife; ( ministre ) parcel means an area of land the boundaries of which are (a) shown on a plan registered or filed in a land titles office, or (b) described in the certificate of title to the land, and that has not been divided into smaller areas by an instrument or plan registered or filed in a land titles office, other than a registered road plan or right of way plan, or by a natural boundary shown on a plan registered in a land titles office; ( parcelle ) private corporation means a corporation incorporated under the laws of Canada or a province of Canada that by its memorandum, articles, by-laws, charter or regulations, (a) in the case of a corporation having share capital, (i) restricts or prohibits the right to transfer any of its shares, (ii) limits the number of its members to 50 or less (exclusive of persons who are in the employment of the corporation, and persons who, having been formerly in the employment of the corporation, were while in that employment and have continued after the termination of that employment to be members of the corporation), but where two or more persons hold one or more shares in the corporation jointly they shall, for the purposes of this definition, be treated as a single member, and (iii) prohibits an invitation to the public to subscribe for any shares or debentures of the corporation, or (b) in the case of a corporation not having share capital, (i) limits the number of its members to 50 or less (exclusive of persons who are in the employment of the corporation, and of persons who having been formerly in the employment of the corporation were, while in that employment and continued after the termination of that employment to be members of the corporation), (ii) prohibits an invitation to the public to become members or t