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ARTICLE · 28 NOVEMBER 2011

Prime Minister Sheds Light On Canada’s Foreign Investment Policy

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During a September interview with Bloomberg Business, Canada's Prime Minister Stephen Harper provided additional insight into the role that the regulation of foreign investment will continue to play in Canada and, in particular, as to how the "Investment Canada Act" will be administered by his majority government.

CanadaAntitrust/Competition Law
Douglas New
Douglas New
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During a September interview with Bloomberg Business, Canada's Prime Minister Stephen Harper provided additional insight into the role that the regulation of foreign investment will continue to play in Canada and, in particular, as to how the Investment Canada Act will be administered by his majority government. 

This information is particularly important in the aftermath of the 2010 abandonment by BHP Billiton Plc of its bid for Potash Corp. following an interim decision by then Industry Minister Tony Clement that BHP's proposed acquisition did not, based on BHP's plans and undertakings, satisfy the "net benefit to Canada" test under the Investment Canada Act. The rejection of BHP's proposed acquisition raised questions in the minds of non-Canadian investors as to how welcoming the Harper government will be to future foreign investment.

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