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ARTICLE · 07 SEPTEMBER 2005

Proposed Amendments to the Investment Canada Act

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Bill C-59 allows the government to review foreign investments if it is thought that they might compromise Canada’s national security. The amendment contains no definition of national security nor does it set out criteria to be considered when determining if an investment is a threat.

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This article was originally published in Blakes Bulletin on International Trade, July 2005

Article by: Jesse Tracey and Cliff Sosnow, ©2005, Blake, Cassels & Graydon LLP

Bill C-59 allows the government to review foreign investments if it is thought that they might compromise Canada’s national security. The amendment contains no definition of national security nor does it set out criteria to be considered when determining if an investment is a threat. Foreign investors are given little protection from arbitrary and capricious decisions under the NAFTA and the WTO.

Overview On June 20, 2005, the Minister of Industry announced amendments to Canada’s foreign investment legislation, the Investment Canada Act (ICA). The proposed amendments contained in Bill C-59 (An Act to Amend the Investment Canada Act) would allow foreign investments to be modified or disallowed because of concerns they may compromise Canada’s national security. The ICA currently allows for review of foreign

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