Water is a finite resource. …

Water is a finite resource. Climate change will only accentuate this.
All businesses that consume large amounts of water should have regulatory limits on the amount of water they can take - not just bottling companies.
It should not be municipally regulated. Municipalities stand to gain Tax revenue from these businesses so have a financial incentive to allow it.
There needs to be provincially regulated means of monitoring/policing this because right now there is Certainly not.
There also needs to be substantial penalties for those defying the regulations. Contingencies need also to be in place when low water levels are present that create additional enforceable restrictions.
Residential use needs always to trump business interests hence local homeowners need to have an effortless means of obtaining financial retribution from businesses that use water for profit when their wells go dry - not a legal / Bureaucratic labyrinth. Drilling a new well costs thousands of dollars that few homeowners have. It’s completely inappropriate for them to have to foot the bill while businesses profit.