Federal Government Releases Proposed Bill relating to Fall Economic Statement – including Significant Competition Act Amendments

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Revised text of Bill C-56 Released

On November 27, 2023, the Federal Government passed a Notice of Ways and Means Motion to introduce a bill entitled An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 21, 2023 and certain provisions of the budget tabled in Parliament on March 28, 2023, which was tabled on November 30, 2023 as Bill C-59 (the “Bill”). The Bill proposes amendments that implement some of the goals discussed in the 2023 Fall Economic Statement  to strengthen competition in Canada (as discussed in our previous blog post).Continue Reading Significant Competition Act Amendments on the Horizon

On November 21, 2023, the Federal Government released its 2023 Fall Economic Statement (the “Statement”). The Statement lays out the Federal Government’s multifaceted plan to improve housing in Canada, support the middle class, bolster the economy and create a stable financial sector. Additionally, the Statement outlines the Federal Government’s desire to strengthen competition in Canada through proposed amendments to the Competition Act (the “Act”). More specifically, the Statement discusses changes aimed at combatting alleged dominance abuses by large companies, modernizing merger reviews, protecting consumers from misleading claims and enabling private entities to engage in legal proceedings related to anti-competitive practices. These changes, according to the Statement, “will help bring Canada into alignment with international best practices to ensure that our marketplaces promote fairness, affordability, and innovation.”Continue Reading Federal Government Releases Fall Economic Statement – with New Competition Act Amendments Previewed