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ARTICLE · 07 APRIL 2015

Impact For Investors Of Canada's Implementations Of Its Commitments Under Convention On Cluster Munitions

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The Cluster Munitions Act does not explicitly prohibit financial investments in cluster munitions, contrary to the legislation of certain other countries that have enacted the international Convention on Cluster Munitions.

CanadaFinance and Banking
Laurence DetièRe
Laurence DetièRe
Stéphane Eljarrat
Stéphane Eljarrat
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Canada has implemented its commitments under the 2008 international Convention on Cluster Munitions by ratifying the Convention and bringing national legislation, the Prohibiting Cluster Munitions Act (Cluster Munitions Act), into force on March 16, 20151 and this might be of interest to investors and fund managers.

The Cluster Munitions Act prohibits the use, development, production, acquisition, possession, import or export of cluster munitions, explosive submunitions and explosive bomblets (collectively, "cluster munitions"), as well as the foreign movement thereof for purposes of transferring their ownership and control. It also prohibits attempting to commit, or aiding, abetting, counselling or conspiring to commit, such a prohibited act and providing assistance after a prohibited act.

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