Canada Lands Company Limited is an arms length, self-financing Crown Corporation reporting to Parliament through the Minister of Transport, Infrastructure and Communities. The principal goal of the company's current policy mandate as determined by Cabinet is:

"to ensure the commercially oriented, orderly disposition of surplus properties with optimal value to the Canadian taxpayer and the holding of certain properties."

Canada Lands Company Limited is a Canada Business Corporations Act corporation and is listed in Schedule III, Part 1 of the Financial Administration Act as an agent Crown. It is the parent company of three wholly owned active subsidiaries: