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ARTICLE · 03 JULY 2017

2017 Budget Implementation Act Introduces Amendments To The Investment Canada Act

Osler, Hoskin & Harcourt LLP
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On June 22, 2017, Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (the Budget Act), received Royal Assent.

CanadaGovernment, Public Sector
Shuli Rodal
Shuli Rodal
Michelle Lally
Michelle Lally
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This article is further to Osler's December 2016 post on what to watch for in Canadian foreign investment review in 2017. At that time, we predicted that liberalization would be a dominant foreign investment theme in 2017.

On June 22, 2017, Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (the Budget Act), received Royal Assent. The Budget Act implements the previously announced increase of the generally applicable threshold for "net benefit" review under the Investment Canada Act (ICA) to $1 billion.

Upcoming ICA "net benefit" review threshold increases

Now that the Budget Act has come into force, it has triggered an immediate increase to $1 billion for the review threshold for most investments or dispositions by WTO investors that are not state-owned enterprises (SOEs). The $1 billion threshold, calculated based on enterprise value of the Canadian business being acquired,  is a

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