It's crown land. You can only lease it.
I haven't done a detailed study on this. This is just what I've heard in discussion with people who should know. There are parts of New England in the United States, a good part of Southeast Asia.... They're former Commonwealth lands. They're called Commonwealth realms. They maintain that sort of crown status and you can only lease land. That's true in the Australian Capital Territory as well.
Those places I've named happen to be the world's major financial districts, and one of them is a major growth engine in the world economy. They don't have any trouble operating with leased lands.
That's not to say if a first nation's preference is to get into a fee simple arrangement they shouldn't be doing that. My concern, as you've seen from the remarks I've provided to committee, is that in the current situation there are tools, with adequate resourcing and authorities, that first nations could be using, which are satisfactory and which might be satisfactory to a large number of first nations, and certainly are satisfactory to some of the major economies in the world.