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ARTICLE · 31 AUGUST 2022

Investment Canada Act Voluntary Notification Comes Into Force On August 2, 2022

Gardiner Roberts LLP
Gardiner Roberts LLP
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As of August 2, 2022, foreign investors are able to file a voluntary notice where they otherwise would not be subject to mandatory notification or net benefit review.

CanadaGovernment, Public Sector
Eliane Leal da Silva
Eliane Leal da Silva
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As of August 2, 2022, foreign investors are able to file a voluntary notice where they otherwise would not be subject to mandatory notification or net benefit review. This applies to non-controlling or minority investments made by foreign investors that do not constitute an acquisition of control or the establishment of a Canadian business under the Investment Canada Act ("ICA").

The main objectives of the Regulations amending the National Security Review of Investments Regulations (the "Amendments") are to provide an option for foreign investors to obtain pre-implementation regulatory certainty regarding a national security review of investments that do not require filing under the ICA, and to enhance the review process by increasing the initial review period for which a filing is not mandatory.

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