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ARTICLE · 09 SEPTEMBER 2024

Investment Canada Act Update: First Round Of Amendments Now In Force And Recent Enforcement And Policy Developments

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Important amendments to the Investment Canada Act (the ICA) came into force this week. These amendments are largely designed to strengthen the Minister of Innovation, Science and Economic Development's (the Minister's)...

CanadaGovernment, Public Sector
Dany Assaf
Dany Assaf
Omar Wakil
Omar Wakil
Michael Amm
Michael Amm
Ian Li
Ian Li
Robin Asgari
Robin Asgari
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Important amendments to the Investment Canada Act (the ICA) came into force this week. These amendments are largely designed to strengthen the Minister of Innovation, Science and Economic Development's (the Minister's) oversight of national security reviews. Other major amendments requiring implementing regulations are expected to come into force in the next 12 to 24 months. The amendments are part of a broader trend towards stricter foreign investment rules.

Meanwhile, recent enforcement activity and government statements reinforce the government's opposition to Chinese investment in critical minerals and the government's desire to promote Canadian critical mineral national champions' growth and protect them from foreign takeovers.

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