GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Investment Canada Act — I-21.8 24
aph (c) of the definition CUSMA investor in subsection (4), (a) subsections 26(1) and (2) and section 27 apply and, for that purpose, (i) every reference in those provisions to “Canadian” or “Canadians” shall be read and construed as a reference to “CUSMA investor” or “CUSMA investors”, respectively, (ii) every reference in those provisions to “non-Canadian” or “non-Canadians” shall be read and construed as a reference to “non-Canadian, other than a CUSMA investor,” or “non-Canadians, other than CUSMA investors,” respectively, except for the reference to “non-Canadians” in subparagraph 27(d)(ii), which shall be read and construed as a reference to “not CUSMA investors”, (iii) every reference in those provisions to “Canadian-controlled” shall be read and construed as a reference to “CUSMA investor-controlled”, and (iv) the reference in subparagraph 27(d)(i) to “Canada” shall be read and construed as a reference to “a CUSMA country”; and (b) where two persons, one being a Canadian and the other being a CUSMA investor, own equally all of the voting shares of a corporation, the corporation is deemed to be CUSMA investor-controlled. R.S., 1985, c. 28 (1st Supp.), s. 24; 1988, c. 65, s. 136; 1993, c. 44, s. 179; 1994, c. 47, s. 134 2020, c. 1, s. 111 2024, c. 4, s. 10
Investment Canada Act — I-21.8
Agreement has the same meaning as in section 2 of the Canada–United States–Mexico Agreement Implementation Act . ( Accord )
Investment Canada Act — I-21.8 (a)
controlled by a CUSMA 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 CUSMA investor through the ownership of voting interests; or (b) the ownership by a CUSMA investor of all or substantially all of the assets used in carrying on the Canadian business. ( sous le contrôle d’un investisseur ACEUM )
Investment Canada Act — I-21.8
CUSMA country means a country that is a party to the Agreement. ( pays ACEUM )
Investment Canada Act — I-21.8 (a)
CUSMA investor means (a) an individual, other than a Canadian, who is a national as defined in Article 1.5 of the Agreement; (b) a government of a CUSMA country, 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 CUSMA investor-controlled entity, as determined in accordance with subsection (5); (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 CUSMA investor within the meaning of paragraph (c), (iii) of which less than a majority of its voting interests are owned by CUSMA 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 CUSMA 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 CUSMA 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 CUSMA investors; or (f) any other form of business organization specified by the regulations that is controlled by a CUSMA investor. ( investisseur ACEUM )
Investment Canada Act — I-21.8 25
Information for monitoring 25 A non-Canadian that implements an investment in accordance with this Part shall submit such information in his possession relating to the investment as is required from time to time by the Director in order to permit the Director to determine whether the investment is being carried out in accordance with the application filed under section 17 and any representations made or undertakings given in relation to the investment. R.S., 1985, c. 28 (1st Supp.), s. 25; 1995, c. 1, s. 50
Investment Canada Act — I-21.8 25.1
Application 25.1 This Part applies in respect of an investment, implemented or proposed, by a non-Canadian (a) to establish a new Canadian business; (b) to acquire control of a Canadian business in any manner described in subsection 28(1); or (c) to acquire, in whole or in part, or to establish an entity carrying on all or any part of its operations in Canada if the entity has (i) a place of operations in Canada, (ii) an individual or individuals in Canada who are employed or self-employed in connection with the entity’s operations, or (iii) assets in Canada used in carrying on the entity’s operations. 2009, c. 2, s. 453
Investment Canada Act — I-21.8 25.11
Beginning of review 25.11 The review of an investment under this Part begins on the day on which it first comes to the attention of the Minister. 2024, c. 4, s. 13
Investment Canada Act — I-21.8 25.12
Requirement to provide information 25.12 The Minister may require the non-Canadian or other person or entity from which the Canadian business or the entity referred to in paragraph 25.1(c) is being acquired to provide to the Minister, within the time and in the manner specified by the Minister, any prescribed information or any other information that the Minister considers necessary for the purposes of the review. 2024, c. 4, s. 13
Investment Canada Act — I-21.8 25.2
Notice 25.2 (1) If the Minister has reasonable grounds to believe that an investment by a non-Canadian could be injurious to national security, the Minister may, within the prescribed period, send to the non-Canadian a notice that an order for the review of the investment may be made under subsection 25.3(1). Condition for investment (2) If a non-Canadian has not implemented a proposed investment when they receive a notice under subsection (1), they shall not implement the investment unless they receive (a) a notice under subsection (4); (b) a notice under paragraph 25.3(6)(b) or (c); or (c) a copy of an order made under section 25.4 authorizing the investment to be implemented. (3) [Repealed, 2024, c. 4, s. 14] Notice (4) If the Minister, after the consultation referred to in subsection 25.3(1), does not consider that the investment could be injurious to national security, the Minister shall, within the prescribed period, send to the non-Canadian a notice indicating that consideration of the investment is complete and that no order will be made under that subsection. 2009, c. 2, s. 453; 2013, c. 33, s. 140 2024, c. 4, s. 14
Investment Canada Act — I-21.8 25.31
New undertakings 25.31 After the Minister sends a notice referred to in paragraph 25.3(6)(c), the Minister may (a) accept new written undertakings if the Minister is satisfied, with the concurrence of the Minister of Public Safety and Emergency Preparedness, that the risks of injury to national security identified in the notice would continue to be addressed; or (b) release the non-Canadian or other person or entity from any undertakings, if the Minister is satisfied, with the concurrence of the Minister of Public Safety and Emergency Preparedness, that they are no longer necessary to address those risks. 2024, c. 4, s. 15
Investment Canada Act — I-21.8 25.4
Governor in Council’s powers 25.4 (1) On the referral of an investment under paragraph 25.3(6)(a) or subsection 25.3(7), the Governor in Council may, by order, within the prescribed period, take any measures in respect of the investment that he or she considers advisable to protect national security, including (a) directing the non-Canadian not to implement the investment; (b) authorizing the non-Canadian to make the investment on the terms and conditions contained in the order; or (c) requiring the non-Canadian to divest themselves of control of the Canadian business or of their investment in the entity. Copy of order (2) The Minister shall send a copy of the order to the non-Canadian or other person or entity to which it is directed without delay after it has been made. Requirement to comply with order (3) The non-Canadian or other person or entity to which the order is directed shall comply with the order. Statutory Instruments Act does not apply (4) The Statutory Instruments Act does not apply in respect of the order. 2009, c. 2, s. 453; 2013, c. 33, s. 142 2024, c. 4, s. 16
Investment Canada Act — I-21.8 25.5
Information to determine compliance 25.5 Non-Canadians or other persons or entities shall, within the time and in the manner specified by the Director, submit any information relating to the investment that is required by the Director in order to permit the Director to determine whether they are complying with (a) an order made under section 25.3 or 25.4; or (b) any written undertaking given to His Majesty in right of Canada and referred to in paragraph 25.3(6)(c) or 25.31(a). 2009, c. 2, s. 453 2024, c. 4, s. 17
Investment Canada Act — I-21.8 25.6
Decisions and orders are final 25.6 Decisions and orders of the Governor in Council and of the Minister made under this Part are final and binding and, except for judicial review under the Federal Courts Act , are not subject to appeal or to review by any court. 2009, c. 2, s. 453 2024, c. 4, s. 17
Investment Canada Act — I-21.8 25.7
Closed proceeding on judicial review 25.7 (1) The following provisions apply to the judicial review of a decision or order made under this Part: (a) [Repealed, 2024, c. 16, s. 109] (b) [Repealed, 2024, c. 16, s. 109] (c) [Repealed, 2024, c. 16, s. 109] (d) [Repealed, 2024, c. 16, s. 109] (e) [Repealed, 2024, c. 16, s. 109] (f) if the judge determines that evidence or other information provided by the Minister is not relevant or if the Minister withdraws the evidence or other information, the decision of the judge shall not be based on that evidence or other information and the judge must return it to the Minister; and (g) the judge shall ensure the confidentiality of all evidence and other information that the Minister withdraws. Definition of judge (2) In this section, judge means the Chief Justice of the Federal Court or a judge of that Court designated by the Chief Justice. 2024, c. 4, s. 17 2024, c. 16, s. 109
Investment Canada Act — I-21.8 25.8
Protection of information on appeal 25.8 Section 25.7 applies to any appeal of a decision made under that section and to any further appeal, with any necessary modifications. 2024, c. 4, s. 17
Investment Canada Act — I-21.8 25.9
Notification 25.9 Within 30 days after sending a notice under paragraph 25.3(6)(c) or a copy of the order under subsection 25.4(2), the Minister shall notify the National Security and Intelligence Committee of Parliamentarians and the National Security and Intelligence Review Agency of (a) the fact that a notice was sent under paragraph 25.3(6)(c) and of the identity of the non-Canadian and the Canadian business or entity referred to in paragraph 25.1(c); or (b) the fact that an order was made under subsection 25.4(1), of the identity of the non-Canadian and the Canadian business or entity referred to in paragraph 25.1(c) that is the subject of the order, and of whether the order (i) directed the non-Canadian not to implement the investment that is the subject of the order, (ii) authorized the investment or contained terms and conditions, or (iii) required the non-Canadian to divest themselves of control of the Canadian business, or of their investment in the entity, that is the subject of the order. 2024, c. 4, s. 17
Investment Canada Act — I-21.8 26
stantially unchanged or for two years from the date of that notification, whichever period is shorter. Equal ownership (6) Where two persons own equally all of the voting shares of a corporation and at least one of them is a non-Canadian, the corporation is not a Canadian-controlled entity. R.S., 1985, c. 28 (1st Supp.), s. 26; 1993, c. 35, s. 4; 1995, c. 1, s. 50; 2009, c. 2, s. 454; 2013, c. 33, s. 143 2024, c. 4, s. 18
Investment Canada Act — I-21.8 27
Other rules 27 For the purposes of section 26, (a) where voting interests of an entity are owned by a partnership, a trust, other than a trust described in subsection 26(2), or a joint venture, those voting interests are deemed to be owned by the partners, beneficiaries or members of the joint venture, as the case may be, in the same proportion as their respective ownership interests in the assets of the partnership, trust or joint venture; (b) a trust described in subsection 26(2) is deemed to be a person for the purposes of the definition voting group in section 3; (c) any voting shares of a corporation that are issued to bearer are deemed to be owned by non-Canadians unless the contrary is established; and (d) where voting interests of an entity are held by individuals each of whom holds not more than one per cent of the total number of voting interests of the entity, the Minister shall, in the absence of evidence to the contrary, accept as evidence that those voting interests are owned by individuals who are Canadians a statement purporting to be signed by a person duly authorized by the entity in that behalf indicating that (i) according to the records of the entity, the individuals who hold those voting interests have addresses in Canada, and (ii) the person purporting to have signed the statement has no knowledge or reason to believe that those voting interests are owned by individuals who are non-Canadians.
Investment Canada Act — I-21.8 29
Acquisition by more than one transaction or event 29 (1) For the purposes of this Act, the acquisition of anything includes any acquisition thereof that occurs as a result of more than one transaction or event, whether or not those transactions or events occur or have occurred as, or as a part of, a series of related transactions or events and, subject to any provision of this Act, whether or not one or more of those transactions or events occurred before the coming into force of this Act. Presumption (2) For the purposes of subsection (1), where, as a result of more than one transaction or event, not one of which is an acquisition of control within the meaning of subsection 28(1), an entity carrying on a Canadian business is controlled in fact through the ownership of voting interests by a non-Canadian, that non-Canadian is deemed to have acquired control of the entity at the time and in the manner of the latest of those transactions or events.
Investment Canada Act — I-21.8 30
Contractual rights to acquire voting interests or assets 30 (1) For the purposes of this Act, a non-Canadian who has an absolute right under a written contract to acquire voting interests of an entity or to acquire any assets used in carrying on a business may, at the option of that non-Canadian, treat that right as if it had been exercised and as if that non-Canadian owned the voting interests or assets that are the subject of that right. Voting shares carrying more or less than a voting right (2) For the purposes of this Act, where a voting share has attached to it more than a single voting right, or a fraction of a voting right, that voting share is deemed to be the number of voting shares, or the fraction of a voting share, that corresponds to the number of voting rights or fraction of a voting right that the voting share confers.
Investment Canada Act — I-21.8 31
Business partly in Canada 31 (1) A Canadian business shall be deemed to be carried on in Canada notwithstanding that it is carried on partly in Canada and partly in some other place. Part of a business (2) A part of a business that is capable of being carried on as a separate business is a Canadian business if the business of which it is a part is a Canadian business.
Investment Canada Act — I-21.8 32
New Canadian businesses 32 (1) The time at which a new Canadian business is established is the time at which it becomes a Canadian business. Investments (2) The time at which an investment is implemented is the time at which the new Canadian business that is the subject of the investment is established or the time at which control of the Canadian business that is the subject of the investment is acquired.
Investment Canada Act — I-21.8 33
Means of sending 33 Where a notice, receipt or demand is required to be sent by the Minister or the Director under any provision of this Act, it shall be sent by personal delivery, registered mail, telecommunicated text or any other verifiable means of communication. R.S., 1985, c. 28 (1st Supp.), s. 33; 1995, c. 1, s. 50
Investment Canada Act — I-21.8 34
Operation of other Acts 34 Nothing in or done under the authority of this Act affects the operation of any other Act of Parliament that applies to or in respect of any particular Canadian business or class of Canadian businesses, except as expressly provided in this Act.
Investment Canada Act — I-21.8 35
Regulations 35 (1) The Governor in Council may make regulations (a) prescribing anything that, pursuant to any provision of this Act, is to be prescribed; and (b) prescribing any other matter or thing necessary for carrying into effect the purposes and provisions of this Act. Prescribing periods (1.1) Any regulations prescribing a period for the purposes of subsections 25.2(1) and 25.3(1) may provide for a separate period depending on whether it is in respect of an investment referred to in section 11 or 14 or any other investment and, for the purposes of subsection 25.3(1), depending on whether a notice has or has not been issued under subsection 25.2(1). Tabling regulations (2) Any regulations made for the purposes of section 15 or the definition new Canadian business in section 3 that prescribe a specific type of business activity that, in the opinion of the Governor in Council, is related to Canada’s cultural heritage or national identity shall be laid before each House of Parliament on any of the first five days on which that House is sitting after they are made and shall not come into force before sixty days after they are made. Referral to committee (3) Any regulations laid before a House of Parliament pursuant to subsection (2) shall be referred to such standing or special committee of that House as may be established or designated for the purpose of studying matters to which the regulations relate. Exception (4) Subsection (2) does not apply to any regulation referred to in that subsection that comes into force on the day this Act comes into force. R.S., 1985, c. 28 (1st Supp.), s. 35; 2009, c. 2, s. 456
Investment Canada Act — I-21.8 36
Canadian business, or of their investment in the entity, that is the subject of the order; (e.3) any other information contained in an order made under subsection 25.4(1); (f) information to which a person is otherwise legally entitled; (g) information contained in reasons given by the Minister for any decision taken under subsection 21(1), 22(2) or 23(3); or (h) information relating to the acceptance of security under subsection 19(2). Information referred to in paragraph (4)(e.1), (g) or (h) (4.1) The Minister shall inform the Canadian or non-Canadian before communicating or disclosing any financial, commercial, scientific or technical information under paragraph (4)(e.1), (g) or (h), and the Minister shall not communicate or disclose the information if they satisfy the Minister, without delay, that the communication or disclosure would prejudice them. For greater certainty (4.101) For greater certainty, when communicating or disclosing under paragraph (4)(e.2) the fact that an order was made under subsection 25.4(1), the Minister is not prohibited from communicating or disclosing the identity of the non-Canadian and of the Canadian business or entity referred to in paragraph 25.1(c) that is the subject of the order. Information referred to in paragraph (4)(e.3) (4.11) The Minister shall inform the Canadian or non-Canadian before communicating or disclosing any information under paragraph (4)(e.3), and the Minister shall not communicate or disclose the information if they satisfy the Minister, without delay, that the communication or disclosure would prejudice them. Communication or disclosure — application (4.2) Despite subsection (1), the Minister may communicate or disclose the fact that an application has been filed under this Act, other than Part IV.1, and at what point the investment to which the application relates is in the review process. The Minister shall inform the non-Canadian and, with their consent, the Canadian business before communicating or disclosing such information and the Minister shall not communicate or disclose the information if either of them satisfy the Minister, without delay, that the communication or disclosure would prejudice them. Non-disclosure (5) No minister of the Crown and no officer or employee of Her Majesty in right of Canada or a province may be required, in connection with any legal proceedings or otherwise, to give evidence relating to or otherwise to communicate or disclose any information referred to in paragraph (4)(b) where, in the opinion of the Minister or a person designated by the Minister, the communication or disclosure of that information is not necessary for any purpose relating to the administration or enforcement of this Act and would prejudicially affect the non-Canadian that gave the written undertaking referred to in that paragraph in the conduct of the business affairs of that non-Canadian. R.S., 1985, c. 28 (1st Supp.), s. 36; 1995, c. 1, s. 50; 2009, c. 2, s. 457; 2012, c. 19, s. 480; 2014, c. 39, s. 187 2024, c. 4, s. 19
Investment Canada Act — I-21.8 37
Ministerial opinions 37 (1) If any question arises under this Act as to whether an individual or entity that proposes to establish, or to acquire control of, a Canadian business that carries on a specific type of business activity referred to in paragraph 15(a) is a Canadian, the Minister shall, on application by or on behalf of the individual or entity consider the application and any information and evidence submitted in connection with the application and, unless the Minister concludes that the submitted information and evidence is not sufficient to enable the Minister to reach an opinion on the question, shall provide the applicant with a written opinion for the guidance of the applicant. Time for providing opinion (1.1) The Minister shall provide his or her opinion no later than 45 days after the Minister concludes that the information and evidence he or she has received is sufficient to enable him or her to reach an opinion on the question. Other opinions (2) Anyone may apply to the Minister, with supporting information, for an opinion on the applicability to them of any provision of this Act or the regulations to which subsection (1) does not apply, and the Minister may provide the applicant with a written opinion for the applicant’s guidance. For greater certainty, the application may be in relation to any question that arises under this Act as to whether the applicant is a Canadian. Time for providing opinion (2.1) If the Minister decides to provide an opinion under subsection (2), he or she shall provide it no later than 45 days after the Minister concludes that the information he or she has received is sufficient to enable him or her to reach an opinion on the question. Opinion binding (3) If the material facts submitted by or on behalf of an applicant for an opinion are accurate, a written opinion provided under this section is binding on the Minister and the Director for so long as the material facts on which the opinion was based remain substantially unchanged. Authorized opinions (4) The Minister may authorize the Director or any person the Minister deems qualified to provide written opinions under this section, and any opinion so provided has the same effect as if it had been provided under this section by the Minister. R.S., 1985, c. 28 (1st Supp.), s. 37; 1988, c. 65, s. 137; 1994, c. 47, s. 135; 1995, c. 1, s. 50; 2009, c. 2, s. 458; 2013, c. 33, s. 145
Investment Canada Act — I-21.8 38
Guidelines and interpretation notes 38 The Minister may issue and publish, in such manner as the Minister deems appropriate, guidelines and interpretation notes with respect to the application and administration of any provision of this Act or the regulations.