Amendments To Canada´s Competition Act: Compliance Costs Just Went Up

Last June, we reported that the Competition Policy Review Panel had recommended major changes to Canada's Competition Act. These changes are now imminent. On February 6, the federal government tabled Bill C-10, which, in addition to implementing the government's January 27 budget, will amend the Competition Act in a number of important areas. The most notable of the proposed changes, which we expect to become law within weeks, are the following:

Merger Notification and Review. The time period for the Competition Bureau's review of notifiable mergers will be increased to a minimum of 30 days in all cases, and the Commissioner of Competition will be empowered to initiate a second-stage review that will extend the review period until 30 days following compliance with a "second request" for additional information.