Understanding the Prince Edward Island Lands Protection Act slide image

Understanding the Prince Edward Island Lands Protection Act

So, what does this mean? Because Jack is involved in all three of these corporations and is the majority shareholder, or controls each one, and "...a corporation and other corporations directly or indirectly controlled by the same person, group or organization shall be deemed to be one corporation", then Potato Co., Organic Co., and Carrot Co. are deemed to be one corporation because they are all controlled by Jack. AND since a corporation's aggregate land holding is, among other things, comprised of all of its land holdings and all of its shareholders' land holdings...
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