The present Act lays down provisions relating to the so-called “green belt”. For the purpose of this Act “green belt land” means land that is considered by the Miniister to be suitable for preservation as greenbelt land under this Act.

This Act provides for any 5 or more persons to form an association under this Act to carry on any lawful industry, trade or business on a cooperative basis. An association formed under this Act must include in its name the word " cooperative". The Act is divided into two parts, the first being; Establishment and Operation. Part 2 details, Housing Cooperatives. Sections 2-11 deal with the setting up of a cooperative ealing with capital, memorandum and rules, directors, registration of documents, and Conclusiveness of certificate.

This Act sets up a Ministry of Lands, Parks and Housing. For the purposes of this Act the minister may enter into agreements with; the government of Canada or its agent, or the government of a province or its agent, or with any other person or a municipality. Section 6 set out the powers of the minister. Section 7 deals with appropriation, and section 8 with securing advances. Section 8(1) sets out in detail the provisions dealing with affordable housing assistance and security for it.