Winnipeg Free Press

Winnipeg Free Press (Newspaper) - May 7, 1981, Winnipeg, Manitoba 8 Winnipeg free press thursday. May 7, 1981 land Bill attacked for not s critics say foreign investors still Able to skirt legislation by Brian Cole and John Sullivan the effectiveness of legislation aimed at preventing foreigners from buying Manitoba Farmland will not be known until it is tested in the courts lawyers and politicians who have studied the Issue claim. In a series of interviews observers said the legislation appears to close certain loopholes in the agricultural lands Protection act but fails to effectively eliminate the problem of foreign investment. As Well opposition Las said yesterday the legislation does not address the problem of rising land prices due to speculation because it still permits Ca Nadian corporations from acquiring Large tracts of land. Dummy corporation the conservative Bill attempts to remove the Dummy Canadian Corpora Tion loophole by preventing purchases by any company in which effective control is exercised by foreigners. It also allows the Farmland Protection Board to Force a company to file a disclosure statement on land hold Ings in Manitoba and its source of financing. Beyond that the Bill gives the Board the Power to order a company to sell any land beyond the 20-acre limit if it is satisfied it is controlled by a non Canadian. Agriculture minister Jim Downey says the Bill effectively puts the onus on the land Holder to prove he is not foreign controlled. Winnipeg lawyer Murdoch Mackay said that in terms of foreign invest ment he can see at least two meth ods of circumventing the Legisla Mackay a progressive party Candi Date has been following the controversial legislation closely. He refused to elaborate on the loopholes saying he May use them in other lawyers and politicians agreed there were loopholes and the act was superficial and would not Stop foreign investment. Yesterday after studying the pro posed amendments a lawyer who asked not to be identified said he agreed with nip critics who say there is nothing to prevent a foreign group from setting up a Dummy Canadian corporation. Borrow from group he said a foreign investment group could have a Canadian organize a corporation which would then borrow Money from the group to buy Manitoba Farmland. The person would in effect hold land for the investment group and sell if the group desired to liquidate its assets. Although the current Law forbids a person from acting As a trustee for a foreign group the amendments do not provide a Means for the Board to deter mine the True relationship Between a Canadian corporation and a foreign investment group. is where the weakness the lawyer said. The Board s Power to order disclosure is limited to what the company in question decides to release he explained. He said although the amendment gives the Board sweeping Powers to order divestiture if it is satisfied a corporation is foreign controlled it is Only effective if the Board can obtain evidence to prove its suspicions. Although the Board May not need evidence a person May take a Board decision to court where it would be up to the courts to decide whether the decision is valid based on evidence. The argument has been supported by the nip which says the Only Way solve the problem is to pass legislation which would allow Only resident Manitoba banners to buy land. We re really lulling ourselves into a sense of false Security if we think this is going to do something to halt Rural Bill Uruski George said yesterday. Uruski said the former nip govern ment s Farmland Protection Law banned ownership of More than 160 acres by All non Farmers whether Canadian or for eign. The tories opened up All sorts of loopholes in 1979 by restricting Only foreign purchases he said. Sam a skew Dubonnet said the new changes will but not eliminate foreign land Pur Lem think open noon til. 10-00 pm. Ori sunday May 10. Farmlands need Protection the disagreement is on How. Chases through devious Means. Only the lawyers will Benefit from this legislation. They will just have to find other avenues to get around it and those avenues Are Yuskiw said the Lyon government is simply trying to boost its re election legislature chances by Riding the Tightrope be tween Farmers opposed to unbridled Absentee ownership and those who want to sell land at the highest Price. Aside from the failure to eliminate foreign investment critics also say the Bill will do nothing to prevent inflation Ary land purchases by non farming Canadian speculators. The Absentee sales As much As foreign purchases take land out of production and drive up prices to the Point where Manitoba Farmers cannot compete they argued. High prices mean family farms cannot expand and Young prospective Farmers cannot get into the business. Sid Green of the progressive party called the Bill jingoistic because it tries to make foreign investors the Scapegoat but does t have any effect on the Green said a non Farmer in Toronto or British Columbia will still be Able to buy As much land As they want in Manitoba even though the acquisition will have exactly the same effect on local prices and family farms As one by a Swiss or italian investor. In Washington Canadian club is considered a capital drink from the Capitol building to the White House Washington is a City of history and Colour. As the capital of one of the world s most powerful nations it s the meeting place of diplomats. And the is Canadian club of course. 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