Summary
This regulation designates specific parcels of land in the Northwest Territories (North Baffin Island) as 'TYPE 2 LANDS' based on maps approved by federal land and parks officials, with the designation recorded in government offices. The regulation includes a saving clause excepting lands already under lease or sale agreements. The purpose appears to be a land-use classification or restriction tied to national parks planning, though the specific restrictions are not detailed in this text.
Reason
This centralized land-use designation represents government control over private property that distorts market signals, restricts development options, and creates bureaucratic barriers to productive land use. Such planning regimes inevitably misallocate resources, reduce supply of developable land, and create uncertainty for owners. Any legitimate conservation goals can be achieved through voluntary conservation easements, market purchases, or community agreements rather than top-down restrictions that impose uncompensated harms on property rights. The 'TYPE 2' classification without clear, market-based criteria exemplifies the arbitrary government planning these economists opposed.