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Andrew House practises in the areas of Foreign Investment, Government Relations, and Political Law with a focus on the impact of national and cyber security considerations in federally-regulated industries and transactions.

On August 2, 2022, amendments to the National Security Review of Investments Regulations will come into force, creating a voluntary filing mechanism for investors who do not currently have a filing obligation under the Investment Canada Act (the “Act”). These amendments will also extend the initial national security review period from 45 days to five years for all investments by non-Canadians who choose not to make a filing.

The federal government first proposed these amendments in the Canada Gazette on February 12, 2022. The amendments as posted in the Canadian Gazette on June 3, 2022 are unchanged from the February proposal, aside from the coming into force date.

Continue Reading Canada to Permit Voluntary Filings Under National Security Provisions of Its Investment Canada Act

On February 12, 2022, the federal government proposed, in the Canada Gazette, amendments to the National Security Review of Investments Regulations (the “Regulations”). The Regulations set out the timelines of the national security review process under the Investment Canada Act (the “Act”). If ratified, the proposed amendments would create a voluntary filing mechanism for investors that do not currently have a filing obligation under the Act, and would extend the initial national security review period from 45 days to 5 years for all investments by non-Canadians that do not make a filing. Investors who choose to submit a voluntary filing will, within 45 days from the certification date of their filing, know whether the Government of Canada intends to challenge their investment. The proposed amendments will benefit businesses contemplating an investment in Canada by creating an option to achieve regulatory certainty pre-implementation.

Continue Reading Canada Proposes to Permit Voluntary Filings under National Security Provisions of its Investment Canada Act

On February 2nd, 2022, the Director of Investments issued his annual report on the administration of the Investment Canada Act (“ICA”) for the fiscal year commencing April 1, 2020 and ending March 31, 2021. The Annual Report provides insight on key trends relating to foreign investment and national security reviews in Canada.

During the period covered by the Annual Report, a total of 826 filings were certified under the ICA, representing a 20% decrease from the 1,032 filings made in the previous year. Most notably, the number of applications for review (required in the case of high-value foreign acquisitions) dropped by 67% over the prior period.

Continue Reading Investment Canada Act: 2020/21 Annual Report

Competition, marketing and foreign investment law saw a number of changes in the past year. Many of these changes were in response to the continuing COVID-19 pandemic, which has significantly changed the way Canadians, businesses and government agencies operate. Despite the pandemic, the Competition Bureau (the “Bureau”) has actively continued its enforcement activity and provided a number of guidance documents to help businesses stay onside the Competition Act (the “Act”). Similarly, Canada’s Investment Review Division (“IRD”) of Innovation, Science and Economic Development Canada (“ISED”) has also responded to the challenges resulting from the pandemic.

Continue Reading Fasken’s Forecast for 2022 and Beyond: 2021’s Top 10 Trends in Canadian Competition, Marketing & Foreign Investment Law and what Businesses should expect in 2022

On March 24, 2021, the Minister of Innovation, Science and Industry (the “Minister”) announced updates to the Guidelines on the National Security Review of Investments (the “Guidelines”) issued under the Investment Canada Act (the “ICA”).

This first update since the Guidelines were issued on December 21, 2016 appears

Competition, marketing and foreign investment law saw a number of changes in the past year. Many of these changes were in response to the continuing COVID-19 pandemic, which has changed every aspect of how Canadians, businesses and government agencies operate. Despite the pandemic, the Competition Bureau (the “Bureau”) has actively continued its enforcement activity and provided a number of guidance documents to help businesses stay onside the Competition Act (the “Act”). Similarly, Canada’s Investment Review Division also had to respond to the challenges posed by the pandemic.

Below we discuss ten key themes seen in the competition, marketing and foreign investment law space this year, and discuss what the year ahead has in store.
Continue Reading What 2020 tells us about 2021 and beyond: Fasken’s Year-End Review of the Top 10 Trends in Canadian Competition, Marketing & Foreign Investment Law

On Friday, the Foreign Investment Review Committee (“FIRC”) of the Canadian Bar Association’s (“CBA”) Competition Law Section met with representatives from the Investment Review Division (“IRD”), Innovation, Science and Economic Development Canada (“ISED”) and the Cultural Sector Investment Review (“CSIR”), Canadian Heritage. The meeting featured interesting and informative presentations from representatives from both the IRD and CSIR, followed by a Q&A. Outlined below are some of the highlights.

  1. Highlights from the IRD’s Presentation

(a) Net Benefit to Canada Review Threshold for UK Investors

The United Kingdom (“UK”), which has left the European Union (“EU”), and by extension the Canada-European Union Comprehensive Economic and Trade Agreement (“CETA”), is currently in a transition period which is set to end on December 31, 2020. During the transition period, UK investors have benefited from the net benefit to Canada review threshold available to trade agreement investors. As of January 1, 2021, investments into Canada by UK investors will be subject to the lower threshold for World Trade Organisation  (“WTO”) investors.
Continue Reading Highlights from the Foreign Investment Review Committee’s Town Hall with the Investment Review Division and Cultural Sector Investment Review

Never before have foreign investors faced the same level of scrutiny or uncertainty  

Bill C-20 has passed Canada’s Senate and received Royal Assent, becoming law on July 27, 2020. Part 3 of the Bill becomes the Time Limits and Other Periods Act (COVID-19) and will be of particular and urgent interest to non-Canadians contemplating the

As discussed in our previous post, on April 18, 2020, the Minister of Innovation, Science and Industry released a policy statement announcing that, in light of the evolving COVID-19 pandemic, certain foreign investments into Canada will be subject to enhanced scrutiny under the Investment Canada Act (the “Act”).

Continue Reading Enhanced Scrutiny of Foreign State-Owned Investors / Critical Infrastructure at the Heart of Canadian National Security Concerns

Canada’s antitrust/competition, marketing and foreign investment laws continue to apply despite the global health and economic crisis arising from COVID-19. However, the enforcement of these laws are being significantly impacted by the COVID-19 response. These developments are fast moving and change almost daily.

Fasken’s Antitrust/Competition & Marketing Group continues to monitor these developments very closely.