In this annual review of Canadian foreign investment law, we discuss developments over the past year, including proposed amendments to the Investment Canada Act (ICA) and new government policies on the treatment of specific categories of investments. We also consider how these trends will influence enforcement in the year to come. Our central observation is…
Significant amendments to Canada’s Competition Act (Act) dominated discussion about Canadian competition law policy and enforcement in 2022. Given the full implementation of the first round of amendments and the formal commencement of public consultation on further amendments, potential legislative reforms are certain to remain at the forefront of Canadian competition law discourse in 2023….
The Canadian government has proposed legislation to update and reinforce its national security review process under the Investment Canada Act (ICA). The proposed changes – contained in Bill C-34, National Security Review of Investments Modernization Act (Bill) – are the most significant since the ICA’s national security regime was introduced in 2009. Proposed New…
On November 17, 2022, Canada’s federal Minister of Innovation, Science and Industry formally announced that the federal government is launching a comprehensive review of the Competition Act (Act) and Canadian competition policy. This announcement follows through on the Minister’s previous indications that significant reforms were in the works, and comes after the government enacted more…
The Canadian government announced a new policy on October 28, 2022 (the Policy) under the Investment Canada Act (ICA) governing investments by state-owned enterprises (SOEs) in Canada’s critical minerals sector. The government followed the issuance of the Policy with an announcement on November 2, 2022, that it had ordered three Chinese investors to divest their…
In its first in-person event in more than two years, Canada’s Competition Bureau (the “Bureau”) hosted a summit on September 20, 2022, exploring the intersection between competition law and environmental/sustainability initiatives (details on the Competition and Green Growth Summit are available here). In doing so, the Bureau joins other agencies that have examined the impact…
Competition authorities globally continue to focus attention on potential anticompetitive conduct affecting labour markets, with a particular emphasis on “wage-fixing” and “no-poaching” agreements. Although Canada was somewhat late in addressing this issue, the federal government has now passed amendments to the Canadian Competition Act that criminalize wage-fixing and no-poaching agreements between parties. In enacting this…
The discussion of foreign investment law in Canada usually centres around the net benefit and national security review provisions of the Investment Canada Act (ICA). However, foreign investors must also be aware of different sector-specific laws in Canada that impose limits on foreign ownership of businesses in those sectors, including whether they exercise “control in…
In February 2022, Canada’s Minister of Innovation, Science and Economic Development announced that the Canadian government was evaluating ways to improve the operation of Canada’s Competition Act (Act). The Minister said that changes would be made in multiple stages, with some initial amendments to be proposed in the following months that would have “an immediate…
On March 8, 2022, the government of Canada issued a policy statement regarding the review of Russian investments under the Investment Canada Act (ICA): https://www.ic.gc.ca/eic/site/ica-lic.nsf/eng/lk81228.html. The policy statement was issued in response to Russia’s invasion of Ukraine, which the government called “unprovoked and unjustifiable”, and affects the application of both the ICA’s “net benefit” review…
