ARTICLE · 30 DECEMBER 2016

The New National Security Guidelines – Investments That Pose A National Security Risk

Burnet, Duckworth & Palmer LLP

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On December 19, 2016 the Government of Canada released its much anticipated guidelines on the national security review of investments under the Investment Canada Act (the "National Security Guidelines").

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On December 19, 2016 the Government of Canada released its much anticipated guidelines on the national security review of investments under the Investment Canada Act (the "National Security Guidelines").

The national security provisions of the Investment Canada Act came into effect on March 12, 2009. These provisions allow the Minister of Innovation, Science and Economic Development (the "Minister") and the Governor in Council (e.g. federal cabinet) to reject a foreign investment on the basis that it is "injurious to national security". Regulations setting out the process for national security reviews were enacted; however, no further guidance on what constitutes an investment "injurious to national security" has been provided - until now.

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