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ARTICLE · 01 APRIL 2015

Enterprise Value Has Arrived: New Investment Canada Act Thresholds Effective April 24, 2015

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Last week, the federal government adopted regulations implementing long-awaited changes to the Investment Canada Act (ICA).

CanadaGovernment, Public Sector
Imran Ahmad
Imran Ahmad
Christopher Hersh
Christopher Hersh
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Last week, the federal government adopted regulations implementing long-awaited changes to the Investment Canada Act (ICA) which include:

1.  Financial review thresholds to be based on "enterprise value";

2.  Additional requirements for information in ICA notifications and application forms; and

3.  Extension of the applicable time periods for national security reviews under the ICA.

Overview

Enterprise Value Thresholds

Effective April 24, 2015, the monetary threshold for pre-closing review of foreign investments will be based on an "enterprise value" of $600 million (as opposed to the current $369 million in "asset book" value), which will increase to $800 million in two years and $1 billion in four years. The monetary thresholds will be subject to annual indexation thereafter.

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