GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Investment Canada Act — I-21.8 12
Notice of investment 12 Where an investment is subject to notification under this Part, the non-Canadian making the investment shall, at any time prior to the implementation of the investment or within thirty days thereafter, in the manner prescribed, give notice of the investment to the Director providing such information as is prescribed. R.S., 1985, c. 28 (1st Supp.), s. 12; 1995, c. 1, s. 50
Investment Canada Act — I-21.8 13
Receipt 13 (1) Where a notice given under section 12 provides all the required information or reasons for the inability to provide any part of the required information, or where the notice is completed pursuant to subsection (2), the Director shall forthwith send a receipt to the non-Canadian that gave the notice (a) certifying the date on which (i) the complete notice given under section 12 was received by the Director, or (ii) the information required to complete the notice was received by the Director pursuant to subsection (2); and (b) advising the non-Canadian that (i) the investment is not reviewable under Part IV, or (ii) unless the Director sends the non-Canadian a notice for review under section 15 within 45 days after the certified date referred to in paragraph (a) or within the prescribed period, the investment is not reviewable under Part IV. Incomplete notice (2) Where a notice given under section 12 is incomplete, the Director shall forthwith send a notice to the non-Canadian that gave the notice under that section, specifying the information required to complete the notice under section 12 and requesting that the information be provided to the Director in order to complete that notice. Where investment not reviewable (3) An investment in respect of which a receipt is sent under subsection (1) is not reviewable under Part IV if (a) the information provided by the non-Canadian and relied on by the Director in sending the receipt is accurate; and (b) in a case where the receipt contains the advice referred to in subparagraph (1)(b)(ii), no notice for review is sent to the non-Canadian pursuant to section 15 within 45 days after the certified date referred to in paragraph (1)(a) or within the prescribed period. R.S., 1985, c. 28 (1st Supp.), s. 13; 1995, c. 1, s. 50 2024, c. 4, s. 4
Investment Canada Act — I-21.8 14
Reviewable investments 14 (1) The following investments by non-Canadians are reviewable under this Part: (a) an investment to acquire control of a Canadian business in any manner described in paragraph 28(1)(a), (b) or (c), where the limits set out in subsection (3) apply; (b) an investment to acquire control of a Canadian business in the manner described in subparagraph 28(1)(d)(i), where the limits set out in subsection (3) apply; (c) an investment to acquire control of a Canadian business in the manner described in subparagraph 28(1)(d)(ii), where the circumstances described in subsection (2) and the limits set out in subsection (3) apply; and (d) an investment to acquire control of a Canadian business in the manner described in subparagraph 28(1)(d)(ii), where the circumstances described in subsection (2) do not apply and the limits set out in subsection (4) apply. Circumstances (2) The circumstances referred to in paragraphs (1)(c) and (d) are that the value, calculated in the manner prescribed, of the assets of the entity carrying on the Canadian business, and of all other entities in Canada, the control of which is acquired, directly or indirectly, amounts to more than fifty per cent of the value, calculated in the manner prescribed, of the assets of all entities the control of which is acquired, directly or indirectly, in the transaction of which the acquisition of control of the Canadian business forms a part. Limits (3) An investment described in paragraph (1)(a), (b) or (c) is reviewable under this Part where the value, calculated in the manner prescribed, of (a) the assets acquired, in the case where control of a Canadian business is acquired in the manner described in paragraph 28(1)(c), or (b) the assets of the entity carrying on the Canadian business, and of all other entities in Canada, the control of which is acquired, directly or indirectly, in the case where control of a Canadian business is acquired in the manner described in paragraph 28(1)(a), (b) or (d), is five million dollars or more. Limits (4) An investment described in paragraph (1)(d) is reviewable under this Part where the value, calculated in the manner prescribed, of the assets of the entity carrying on the Canadian business, and of all other entities in Canada, the control of which is acquired, directly or indirectly, is fifty million dollars or more.
Investment Canada Act — I-21.8 14.01 and 14.02
14.01 and 14.02 [Repealed, 1994, c. 47, s. 132]
Investment Canada Act — I-21.8 (a)
controlled by a WTO investor , with respect to a Canadian business, means, notwithstanding subsection 28(2), (a) the ultimate direct or indirect control in fact of the Canadian business by a WTO investor through the ownership of voting interests, or (b) the ownership by a WTO investor of all or substantially all of the assets used in carrying on the Canadian business; ( sous le contrôle d’un investisseur OMC )
Investment Canada Act — I-21.8 (a)
cultural business means a Canadian business that carries on any of the following activities, namely, (a) the publication, distribution or sale of books, magazines, periodicals or newspapers in print or machine readable form, other than the sole activity of printing or typesetting of books, magazines, periodicals or newspapers, (b) the production, distribution, sale or exhibition of film or video recordings, (c) the production, distribution, sale or exhibition of audio or video music recordings, (d) the publication, distribution or sale of music in print or machine readable form, or (e) radio communication in which the transmissions are intended for direct reception by the general public, any radio, television and cable television broadcasting undertakings and any satellite programming and broadcast network services; ( entreprise culturelle )
Investment Canada Act — I-21.8
financial institution [Repealed, 2009, c. 2, s. 448]
Investment Canada Act — I-21.8
financial service [Repealed, 2009, c. 2, s. 448]
Investment Canada Act — I-21.8
WTO Agreement has the meaning given to the word “Agreement” by subsection 2(1) of the World Trade Organization Agreement Implementation Act ; ( Accord sur l’OMC )
Investment Canada Act — I-21.8 (a)
WTO investor means (a) an individual, other than a Canadian, who is a national of a WTO Member or who has the right of permanent residence in relation to that WTO Member, (b) a government of a WTO Member, whether federal, state or local, or an agency thereof, (c) an entity that is not a Canadian-controlled entity, as determined pursuant to subsection 26(1) or (2), and that is a WTO investor-controlled entity, as determined in accordance with subsection (7), (d) a corporation or limited partnership (i) that is not a Canadian-controlled entity, as determined pursuant to subsection 26(1), (ii) that is not a WTO investor within the meaning of paragraph (c), (iii) of which less than a majority of its voting interests are owned by WTO investors, (iv) that is not controlled in fact through the ownership of its voting interests, and (v) of which at least two-thirds of the members of its board of directors, or of which at least two-thirds of its general partners, as the case may be, are any combination of Canadians and WTO investors, (e) a trust (i) that is not a Canadian-controlled entity, as determined pursuant to subsection 26(1) or (2), (ii) that is not a WTO investor within the meaning of paragraph (c), (iii) that is not controlled in fact through the ownership of its voting interests, and (iv) of which at least two-thirds of its trustees are any combination of Canadians and WTO investors, or (f) any other form of business organization specified by the regulations that is controlled by a WTO investor; ( investisseur OMC )
Investment Canada Act — I-21.8
WTO Member means a Member of the World Trade Organization established by Article I of the WTO Agreement. ( membre de l’OMC )
Investment Canada Act — I-21.8 (a)
controlled by a trade agreement investor , with respect to a Canadian business, means, despite subsection 28(2), (a) the ultimate direct or indirect control in fact of the Canadian business by a trade agreement investor through the ownership of voting interests; or (b) the ownership by a trade agreement investor of all or substantially all of the assets used in carrying on the Canadian business. ( sous le contrôle d’un investisseur (traité commercial) )
Investment Canada Act — I-21.8
trade agreement country means a country other than Canada that is a party either to an Agreement described in subparagraph (a)(i) or (i.1) of the definition trade agreement investor in this subsection or to a trade agreement listed in column 1 of the schedule. ( pays (traité commercial) )
Investment Canada Act — I-21.8 (a)
trade agreement investor means (a) an individual, other than a Canadian, who is (i) a natural person within the meaning of Article 8.1 of the Agreement as defined in section 2 of the Canada-European Union Comprehensive Economic and Trade Agreement Implementation Act , (i.1) a natural person within the meaning of Article 8.1 of CETA , as defined in section 2 of the Canada–United Kingdom Trade Continuity Agreement Implementation Act , as incorporated by reference in CUKTCA, or (ii) a national within the meaning of any provision set out in column 2 of the schedule corresponding to a trade agreement set out in column 1; (b) the government of a trade agreement country, whether federal, state or local, or an agency of such a government; (c) an entity that is not a Canadian-controlled entity, as determined under subsection 26(1) or (2), and that is a trade agreement investor-controlled entity, as determined in accordance with subsection (7); (d) a corporation or limited partnership that meets the following criteria: (i) it is not a Canadian-controlled entity, as determined under subsection 26(1), (ii) it is not an entity described in paragraph (c), (iii) less than a majority of its voting interests are owned by trade agreement investors, (iv) it is not controlled in fact through the ownership of its voting interests, and (v) at least two-thirds of the members of its board of directors, or at least two-thirds of its general partners, as the case may be, are any combination of Canadians and trade agreement investors; (e) a trust that meets the following criteria: (i) it is not a Canadian-controlled entity, as determined under subsection 26(1) or (2), (ii) it is not an entity described in paragraph (c), (iii) it is not controlled in fact through the ownership of its voting interests, and (iv) at least two-thirds of its trustees are any combination of Canadians and trade agreement investors; or (f) any other form of business organization specified by the regulations that is controlled by a trade agreement investor. ( investisseur (traité commercial) )
Investment Canada Act — I-21.8 14.2
Regulations 14.2 The Governor in Council may make any regulations that the Governor in Council considers necessary for carrying out the purposes and provisions of sections 14.1 and 14.11. 1988, c. 65, s. 135; 1994, c. 47, s. 133; 2009, c. 2, s. 449; 2017, c. 6, s. 80
Investment Canada Act — I-21.8 14.3
Order 14.3 The Governor in Council may, by order, amend the schedule by adding, deleting or replacing the name of a trade agreement in column 1 or a corresponding provision setting out the meaning of national in column 2. 2017, c. 6, s. 80
Investment Canada Act — I-21.8 15
Other reviewable investments 15 An investment subject to notification under Part III that would not otherwise be reviewable is reviewable under this Part if (a) it falls within a prescribed specific type of business activity that, in the opinion of the Governor in Council, is related to Canada’s cultural heritage or national identity; and (b) within 45 days after the certified date referred to in paragraph 13(1)(a) (i) the Governor in Council, where the Governor in Council considers it in the public interest on the recommendation of the Minister, issues an order for the review of the investment, and (ii) the Director sends the non-Canadian making the investment a notice for review. R.S., 1985, c. 28 (1st Supp.), s. 15; 1995, c. 1, s. 50 2024, c. 4, s. 7
Investment Canada Act — I-21.8 16
Prohibition 16 (1) A non-Canadian shall not implement an investment reviewable under this Part unless the investment has been reviewed under this Part and the Minister is satisfied or is deemed to be satisfied that the investment is likely to be of net benefit to Canada. Exceptions (2) Subsection (1) does not apply (a) where the Minister has sent a notice to a non-Canadian making an investment to the effect that the Minister is satisfied that a delay in implementing the investment would result in undue hardship to the non-Canadian or would jeopardize the operations of the Canadian business that is the subject of the investment; (b) to an investment made through an acquisition referred to in subparagraph 28(1)(d)(ii); or (c) to an investment reviewable pursuant to section 15. Request for notice (3) If a non-Canadian makes a written request to the Minister for a notice referred to in paragraph (2)(a), the Minister shall, within 30 days after receiving all the information required for the Minister to decide whether the conditions described in that paragraph exist, advise the non-Canadian whether he or she will issue the notice or not. R.S., 1985, c. 28 (1st Supp.), s. 16; 2009, c. 2, s. 450
Investment Canada Act — I-21.8 17
Application 17 (1) Where an investment is reviewable under this Part, the non-Canadian making the investment shall, in the manner prescribed, file an application with the Director containing such information as is prescribed. When application must be filed (2) The application required by subsection (1) shall be filed (a) subject to paragraph (b), in the case of an investment reviewable pursuant to section 14, at any time prior to the implementation of the investment; (b) in the case of an investment made through an acquisition referred to in subparagraph 28(1)(d)(ii) or an investment with respect to which a notice referred to in paragraph 16(2)(a) has been sent, at any time prior to the implementation of the investment or within thirty days thereafter; or (c) in the case of an investment reviewable pursuant to section 15, forthwith on receipt of a notice for review referred to in subparagraph 15(b)(ii). Additional information (3) The non-Canadian making the investment shall, within the time specified by the Director, provide any other information that the Director considers necessary. R.S., 1985, c. 28 (1st Supp.), s. 17; 1995, c. 1, s. 50; 2009, c. 2, s. 451
Investment Canada Act — I-21.8 18
Receipt 18 (1) Where an application filed under section 17 contains all the required information or reasons for the inability to provide any part of the information, or where the application is completed pursuant to subsection (2) or is deemed to be complete pursuant to subsection (3), the Director shall forthwith send a receipt to the applicant, certifying the date on which (a) the complete application filed under section 17 was received by the Director; (b) the information required to complete the application was received by the Director pursuant to subsection (2); or (c) the application was deemed to be complete pursuant to subsection (3). Incomplete application (2) Where an application filed under section 17 is incomplete, the Director shall send a notice to the applicant specifying the information required to complete the application and requesting that that information be provided to the Director in order to complete the application. Where application deemed complete (3) Where the Director does not, within fifteen days after an application under section 17 has been received by the Director, send a receipt under subsection (1) or a notice under subsection (2), the application is deemed to be complete as of the date the application was received by the Director. R.S., 1985, c. 28 (1st Supp.), s. 18; 1995, c. 1, s. 50
Investment Canada Act — I-21.8 19
Matters to be referred to Minister 19 (1) The Director shall refer to the Minister, for the purposes of section 21, any of the following material received by the Director in the course of the review of an investment under this Part: (a) the information contained in the application filed under section 17 and any other information submitted by the applicant; (b) any information submitted to the Director by the person or entity from whom or which control of the Canadian business is being or has been acquired; (c) any written undertakings to Her Majesty in right of Canada given by the applicant; and (d) any representations submitted to the Director by a province that is likely to be significantly affected by the investment. Security (2) Her Majesty in right of Canada may accept any security for payment in respect of any penalty that may be imposed under paragraph 40(2)(d). R.S., 1985, c. 28 (1st Supp.), s. 19; 1995, c. 1, s. 50; 2012, c. 19, s. 479
Investment Canada Act — I-21.8 20
Factors 20 For the purposes of section 21, the factors to be taken into account, where relevant, are (a) the effect of the investment on the level and nature of economic activity in Canada, including, without limiting the generality of the foregoing, the effect on employment, on resource processing, on the utilization of parts, components and services produced in Canada and on exports from Canada; (b) the degree and significance of participation by Canadians in the Canadian business or new Canadian business and in any industry or industries in Canada of which the Canadian business or new Canadian business forms or would form a part; (c) the effect of the investment on productivity, industrial efficiency, technological development, product innovation and product variety in Canada, including, for greater certainty, the effect of the investment on any rights relating to intellectual property whose development has been funded, in whole or in part, by the Government of Canada; (d) the effect of the investment on competition within any industry or industries in Canada; (e) the compatibility of the investment with national industrial, economic and cultural policies, taking into consideration industrial, economic and cultural policy objectives enunciated by the government or legislature of any province likely to be significantly affected by the investment, and including, for greater certainty, the effect of the investment on the use and protection of personal information about Canadians; and (f) the contribution of the investment to Canada’s ability to compete in world markets. R.S., 1985, c. 28 (1st Supp.), s. 20 2024, c. 4, s. 8.1
Investment Canada Act — I-21.8 21
30 days after the day on which the notice under that paragraph was sent or at the end of any further period that the Minister and the applicant agree on. Extension (8) If, before the end of the 45-day period referred to in subsection (1), an order is made under subsection 25.3(1) in respect of the investment and if the Minister refers the investment to the Governor in Council under paragraph 25.3(6)(a) or subsection 25.3(7), the period during which the Minister may send the notice referred to in subsection (1) expires either 30 days after the earlier of the following days or at the end of any further period that the Minister and the applicant agree on: (a) the day on which the Governor in Council takes any measure under subsection 25.4(1) in respect of the investment, and (b) the day on which the prescribed period referred to in subsection 25.4(1) ends. Minister deemed to be satisfied (9) Subject to sections 22 and 23, if the Minister does not send a notice under subsection (1) within the 45-day period referred to in that subsection or, if any of subsections (2) to (8) apply, within the 30-day period or agreed further period referred to in the applicable subsection, the Minister is deemed to be satisfied that the investment is likely to be of net benefit to Canada and shall send a notice to that effect to the applicant. R.S., 1985, c. 28 (1st Supp.), s. 21; 1995, c. 1, s. 50; 2009, c. 2, s. 452; 2013, c. 33, s. 138; 2014, c. 39, s. 188 2024, c. 4, s. 9
Investment Canada Act — I-21.8 22
Extension 22 (1) If none of subsections 21(2) to (8) apply and the Minister is unable to complete the consideration of an investment within the 45-day period referred to in subsection 21(1), the Minister shall, within that period, send a notice to that effect to the applicant and the Minister shall, subject to subsection (3) within 30 days from the date of the sending of the notice or within any further period that may be agreed on by the applicant and the Minister, complete the consideration of the investment. Notice (2) Subject to subsection (3), if, within the 30-day period referred to in subsection (1) or any further period that is agreed on under that subsection, the Minister is satisfied that the investment is likely to be of net benefit to Canada, the Minister shall, within that period, send a notice to that effect to the applicant. Extension (3) Subsections 21(2) to (8) apply to this section as though the 45-day period referred to in those subsections were the 30-day period referred to in subsection (1) or the further period as is agreed on under that subsection. Minister deemed to be satisfied (4) Subject to section 23, if the Minister does not send a notice under subsection (2) within the period referred to in that subsection or, if subsection (3) applies, within the 30-day period or agreed further period referred to in whichever of subsections 21(2) to (8) applies to this section by reason of subsection (3), then the Minister is deemed to be satisfied that the investment is likely to be of net benefit to Canada and shall send a notice to that effect to the applicant. R.S., 1985, c. 28 (1st Supp.), s. 22; 2009, c. 2, s. 452; 2013, c. 33, s. 139
Investment Canada Act — I-21.8 23
Notice of right to make representations and submit undertakings 23 (1) If the Minister is not satisfied, within the period provided for in section 21 or 22 to send the notice referred to in subsection 21(1), that an investment is likely to be of net benefit to Canada, the Minister shall send a notice to that effect to the applicant, advising the applicant of their right to make representations and submit undertakings within 30 days from the date of the notice or within any further period that may be agreed on by the applicant and the Minister. Representations and undertakings (2) If, after receipt of the notice referred to in subsection (1), the applicant advises the Minister that the applicant wishes to make representations or submit undertakings, the Minister shall afford the applicant a reasonable opportunity, within the 30-day period referred to in subsection (1), or within any agreed to further period, to make representations, in person or by a representative, and to give undertakings to Her Majesty in right of Canada, as the applicant sees fit. Net benefit (3) Within a reasonable time after the expiry of the period for making representations and submitting undertakings, the Minister shall, in the light of any such representations and undertakings and having regard to the matters to be taken into account under subsection 21(1), send a notice to the applicant (a) that the Minister is satisfied that the investment is likely to be of net benefit to Canada; or (b) confirming that the Minister is not satisfied that the investment is likely to be of net benefit to Canada. R.S., 1985, c. 28 (1st Supp.), s. 23; 2009, c. 2, s. 452
Investment Canada Act — I-21.8 23.1
Reasons 23.1 The Minister shall provide reasons for any decision made under paragraph 23(3)(b) and the Minister may provide reasons for any decision made under subsection 21(1) or 22(2) or paragraph 23(3)(a). 2009, c. 2, s. 452