The Canada Pension Plan Investment Board can no longer own Saskatchewan farmland.
The province announced regulatory amendments to remove the exemption the CPPIB had, saying this would ensure land is owned by Canadians.
The amendments also clarify the Farm Land Security Board’s powers to enforce regulatory compliance.
The board can issue fines for contravening the Farm Security Act.
Agriculture minister Daryl Harrison said the government is “working to ensure that Saskatchewan farmland remains in the hands of Canadian owners and supports the needs of Saskatchewan producers.”
The act was last amended in 2015 to prevent pension plans from owning farm land, but CPPIB was exempted because it owned about 167,000 acres at that time.
It has since sold that land and currently owns none, according to the province.
