The Saskatchewan government has passed new regulatory amendments aimed at keeping provincial farmland in Canadian hands.
Agriculture Minister Daryl Harrison announced the changes Tuesday, saying that they reinforce the province’s commitment to protecting local ownership and supporting producers.
“Our government is working to ensure that Saskatchewan farmland remains in the hands of Canadian owners and supports the needs of Saskatchewan producers,” Harrison said.
Amendments to The Saskatchewan Farm Security Regulations, which support The Saskatchewan Farm Security Act, remove the exemption for the Canada Pension Plan Investment Board (CPPIB) to own Saskatchewan farmland. When the Act was first amended in 2015, pension plans were barred from holding Saskatchewan farmland, but CPPIB was granted an exemption for its existing 167,000 acres. Since then, CPPIB has divested all of those holdings. The new regulations permanently eliminate the exemption, preventing any future CPPIB land acquisitions.
The updated rules also clarify the authority of the Farmland Security Board to impose monetary administrative penalties of up to $10,000 per violation. Penalties may now be issued in cases such as non-Canadian residents or corporations acquiring more than 10 acres, Canadian corporations becoming non-Canadian owned without divesting excess land, or individuals acquiring land on behalf of ineligible foreign buyers. Penalties may also apply when a landowner fails to comply with conditions of an exemption.
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