net benefit review

Subscribe to net benefit review via RSS

Competition Act Merger Notification Thresholds

The Canadian government has announced that the transaction-size threshold for pre-notification under the Competition Act will remain at C$93M for 2024. This is the third year that the transaction-size threshold has been fixed at this level, despite inflationary pressures throughout this period.

Mergers are subject to pre-closing notification in Canada if certain thresholds are met. These thresholds include a transaction-size threshold and a party-size threshold.Continue Reading Merger Transaction-Size Threshold Remains Frozen at C$93M; Investment Canada Act Review Thresholds Increased

On September 28, 2023, the House of Commons Standing Committee on Industry and Technology (“INDU”) – the committee tasked with studying the legislation and activities of Innovation, Science and Economic Development Canada – concluded its study of Bill C-34: An Act to amend the Investment Canada Act and reported its proposed amendments to the House of Commons.Continue Reading Update on proposed amendments to the Investment Canada Act

On September 28th, 2023, the Director of Investments to the Minister of Innovation, Science and Industry (the “Minister”) published the Annual Report on the administration of the Investment Canada Act (the Act) for the 2022/23 fiscal year.

During the fiscal year 2022-2023, the Investment Review Division reviewed 1,010 applications for review and notifications (which is generally in line with the five-year average). Of the 1,010 filings, five applications for review were cleared as being of likely net benefit to Canada (down from the eight applications for review approved in the fiscal year 2021-22). Notably, the average length of time to complete a net benefit review was 97 days, which exceeds the average time during the previous five years (of about 74 to 85 days). In this regard, the Annual Report notes that this should not be taken as “signalling a new trend in the timelines for net benefit reviews.”

The vast majority of notifications related to investments from the United States, with notably no investments originating from Russia.Continue Reading 2022/23 Investment Canada Act Annual Report