Perspective: Draft Investment Canada Act Regulations Provide More Details of New National Security Review Process and General Review Threshold

On March 12, 2009, the Government of Canada passed legislation amending the Investment Canada Act (ICA). These amendments made a number of significant changes to the ICA, including the following:

  • Introducing a national security review process.
  • Changing the general net benefit review threshold for most acquisitions of Canadian businesses by non-Canadians from C$312 million in book value of assets to C$600 million in enterprise value, once new regulations come into force, rising progressively to C$1 billion over a four-year period.

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