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ARTICLE · 25 JUNE 2012

Canadian Government Announces Changes To The Investment Canada Act

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In a series of announcements and statutory amendments over the last several years, the Canadian government has signalled its intent to limit reviews under the Investment Canada Act.

CanadaAntitrust/Competition Law
Emerson Frostad
Emerson Frostad
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In a series of announcements and statutory amendments over the last several years, the Canadian government has signalled its intent to limit reviews under the Investment Canada Act (ICA) to more significant transactions and to strengthen the ICA review and enforcement processes for those transactions that remain subject to review.

The ICA subjects direct and indirect investments by foreign investors to acquire control of Canadian businesses to review and approval if certain financial thresholds are exceeded. If its investment is subject to review, the foreign investor generally must not implement its investment until the Minister of Industry has determined that the investment is likely to be of "net benefit to Canada."

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