Foreign Ownership of Land Regulations (SOR/79-416)

20 (1) If

• (a) an ineligible person, foreign controlled corporation, trustee, general partner of a foreign controlled limited partnership or any other person takes or acquires an interest in controlled land contrary to these Regulations, or

• (b) under these Regulations an ineligible person, foreign controlled corporation, trustee, general partner of a foreign controlled limited partnership or any other person is required to divest himself or itself of an interest in controlled land and does not do so within the time limited by these Regulations,

the Supreme Court of Alberta or the District Court of Alberta may, on the application of the Attorney General of Alberta by way of originating notice, order the judicial sale of the interest in controlled land so required to be divested.

(2) The proceeds of a judicial sale made under subsection (1) shall be applied first to pay the costs of the judicial sale including the costs of the Attorney General in bringing the application for the judicial sale and secondly to pay to the ineligible person, foreign controlled corporation, trustee, general partner of a foreign controlled limited partnership or other person the amount paid by him or it for the interest in controlled land, and the amount, if any, remaining shall be paid into the General Revenue Fund of Alberta.

(3) Nothing in this section restricts, limits or derogates from any remedy at common law or under statute.