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ARTICLE · 22 MAY 2013

Proposed Changes To Canada’s Foreign Investment Rules Create More Uncertainty For State-Owned Investors

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The Canadian Government recently tabled Bill C-60 which proposes important changes to the Investment Canada Act that will increase uncertainty for state-owned investors and companies with significant relationships with state-owned investors.

CanadaAntitrust/Competition Law
Imran Ahmad
Imran Ahmad
Christopher Hersh
Christopher Hersh
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The Canadian Government recently tabled Bill C-60 which proposes important changes to the Investment Canada Act (the "ICA") that will increase uncertainty for state-owned investors and companies with significant relationships with state-owned investors.

These proposed amendments flow from the government's December 2012 policy statement and investment review guidelines on state-owned enterprises ("SOEs"), which were issued following the approval of the CNOOC/Nexen and PETRONAS/Progress transactions, two significant SOE investments in the Canadian energy sector (for a discussion of the policy statement and investment review guidelines on SOEs, please see our prior e-lert, which can be found here).

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