ARTICLE · 01 APRIL 2015

Significant Changes To Canada's Foreign Investment Review Process

Dentons Canada LLP

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On March 25, 2015, the Government of Canada announced significant amendments to the Investment Canada Act, including changes to the thresholds for review, to the disclosure requirements associated with notification and review filings, and to the timeline for reviews of investments that may be injurious to national security.

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Barry Zalmanowitz

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On March 25, 2015, the Government of Canada announced significant amendments to the Investment Canada Act, including changes to the thresholds for review, to the disclosure requirements associated with notification and review filings, and to the timeline for reviews of investments that may be injurious to national security.

The Investment Canada Act is Canada's foreign investment review legislation, which applies to the acquisition of control of a Canadian business by a non-Canadian and the establishment of a new Canadian business by a non-Canadian. Acquisitions of control of Canadian businesses by non-Canadians that exceed certain monetary thresholds require approval by the Minister of Industry (or the Minister of Canadian Heritage where the investment concerns a cultural business) on a "net benefit" to Canada basis prior to implementation. Investments that are not subject to Ministerial review pre-closing are subject to a notification filing within 30 days of

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