The Land Owner Transparency Act ("the Act") excludes specific types of corporations, limited liability companies, and trusts from filing a transparency report.
If you receive a Compliance Review letter from the Land Owner Transparency Registry (LOTR) Enforcement team requesting you to determine if you are a reporting body or excluded under the Act, notify them in writing whether an exclusion applies.
Note: An exclusion that is applicable to a corporation is extended to a wholly owned subsidiary of that corporation.
A corporation listed on a designated exchange is excluded from filing obligations. Not all stock exchanges are designated stock exchanges.
The federal Minister of Finance designates stock exchanges, in part or whole, under section 262 of the Income Tax Act (Canada).
Please refer to this list of Designated Stock Exchanges.
First Nations (as defined in section 365.1 of the Land Title Act) that own land in their own name are exempt from filing requirements under the Land Owner Transparency Regulation.
Furthermore the Act does not apply to Indigenous land as identified in section 6 of the Act.
A corporation that is wholly owned by one or more Indigenous nations is excluded from filing. Refer to the definition of an Indigenous nation under the Act.
For example, if A, B and C are Indigenous nations and together they own 100 percent of a corporation, then that corporation is excluded under LOTA. However, if a portion of a corporation is owned by a person or entity that does not fall under the definition of Indigenous nation in the Act, this exclusion does not apply.
A strata corporation is a legal entity established by depositing a strata plan in a land title office. Strata corporations within the meaning of Strata Property Act are excluded from filing.
Savings institutions are excluded from filing. According to the Interpretation Act, there are 4 types of savings institutions,
Corporations that are reporting issuers or are a reporting issuer equivalent in any Canadian jurisdiction, within the meaning of the Business Corporations Act, are excluded from filing.
The BC Securities Commission has the following "Reporting Issuers List", identifying reporting issuers required to make periodic filings with the BC Securities Commission.
A corporation that is incorporated or continued by an enactment is excluded from filing obligations. This includes an Act of Canada or any province.
If this applies to your corporation, please specify the enactment that incorporated or continued your corporation in your email to LOTR enforcement.
Insurance companies or extraprovincial insurance corporations authorized to carry on business under the Financial Institution Act are excluded from filing.
The BC Financial Service Authority provides a list of insurance companies authorized to operate in BC.
Trust companies are excluded from filing if they are authorized to carry on trust business under the Financial Institution Act or an extraprovincial trust corporation authorized to carry on trust business, deposit business or both, under the Financial Institution Act.
The BC Financial Service Authority provides a list of trust companies authorized to operate in B.C.
Pension fund societies within the meaning of the Pension Fund Societies Act are excluded from filing.
An exclusion that applies to a corporation is also applicable to its wholly owned subsidiaries, within the meaning of the Business Corporations Act.
According to the Business Corporations Act, a corporation is a wholly owned subsidiary of another corporation if all of the issued shares of the first corporation are owned by that other corporation or another wholly owned subsidiary of that other corporation.
If this applies, please provide documentation that the corporation is wholly owned by an excluded corporation to LOTR Enforcement.
Water utilities within the meaning of the Water Utility Act are excluded. This includes a person or business that owns or operates equipment or facilities for the delivery of domestic water service to five (5) or more persons or to a corporation for compensation.
Designated airport authorities within the meaning of the Airport Transfer (Miscellaneous Matters) Act (Canada), are excluded.
Port authorities incorporated or continued under the Canada Marine Act are excluded from filing.
For exclusions applicable to other provincial governments that own land in B.C., see Schedule 1, section 2 of the Act.
See Schedule 1, section 2 for a list of exclusions for the government of Canada.
For questions about filing, contact the administrator.
For other questions, contact the Ministry of Finance: