Rupert's Land Act 1868

The Rupert's Land Act 1868 (31 & 32 Vict. c.105) was an Act of the Parliament of the United Kingdom of Great Britain and Ireland (as it then was), authorizing the transfer of Rupert's Land from the control of the Hudson's Bay Company to the Dominion of Canada. This is the largest land purchase in Canada's history. The transfer occurred in 1869 and was consummated in 1870 by the payment of a consideration of £300,000 (£27 million in 2010) to the Hudson's Bay Company, as mandated by the Rupert's Land and North-Western Territory Order of 1870. Under this agreement, the Bay Company also retained rights to 20% of the arable land in the territory. In short, this was an act giving Rupert's Land to Canada.