ARTICLE · 12 OCTOBER 2023

Update On Bill C-34 – An Act To Amend The Investment Canada Act

Burnet, Duckworth & Palmer LLP

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In our December 15, 2022 publication, Protecting Canada's National and Economic Security Interests: Bill C-34, which you can access here, we highlighted three of the most significant proposed...

CanadaGovernment, Public Sector

Brittney LaBranche

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Introduction

In our December 15, 2022 publication, Protecting Canada's National and Economic Security Interests: Bill C-34, which you can access here, we highlighted three of the most significant proposed amendments to the Investment Canada Act ("ICA") from Bill C-34: An Act to amend the Investment Canada Act ("Bill C-34"), namely:

(1) new mandatory pre-implementation filing requirements for certain investments engaged in yet to be prescribed business activities;

(2) significantly increased Ministerial authority to (i) extend the timeline for national security review, (ii) impose interim conditions, and (iii) accept undertakings as a condition of permitting the foreign investment to proceed; and

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