 Article
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National Security Review of Foreign Investments to be Introduced in Canada |
May 10, 2006
Previously published on June 2005
The Minister of Industry has tabled amendments to the Investment Canada Act (the "ICA") to permit the
review of foreign investments that could compromise national security.
The ICA applies whenever a non-Canadian establishes a new Canadian business or seeks to acquire control of an
existing one. However, review and approval is currently only required where the asset value of an existing
Canadian business exceeds high thresholds or where the investment is in one of four sensitive sectors: culture,
financial services, transportation and uranium production. Where a review is required, investments must meet a
"net benefit to Canada" test.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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