GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Investment Canada Act — I-21.8 38.1
Annual report 38.1 (1) The Director shall, for each fiscal year, submit a report on the administration of this Act to the Minister and the Minister shall make the report available to the public. Required information (2) The report shall include information on the exercise of ministerial duties and powers under Part IV.1. 2009, c. 2, s. 459; 2017, c. 20, s. 193 2024, c. 4, s. 19.1
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Ministerial demand 39 (1) Where the Minister believes that a non-Canadian, contrary to this Act, (a) has failed to give a notice under section 12 or file an application under section 17, (a.1) has failed to provide any prescribed information or any information that has been requested by the Minister or Director, (b) has implemented an investment the implementation of which is prohibited by section 16, 24, 25.2 or 25.3, (c) has implemented an investment on terms and conditions that vary materially from those contained in an application filed under section 17 or from any information or evidence provided under this Act in relation to the investment, (d) has failed to divest himself of control of a Canadian business as required by section 24, (d.1) has failed to comply with a written undertaking given to His Majesty in right of Canada and referred to in paragraph 25.3(6)(c) or 25.31(a), (d.2) has failed to comply with an order made under section 25.3 or 25.4, (e) has failed to comply with a written undertaking given to Her Majesty in right of Canada relating to an investment that the Minister is satisfied or is deemed to be satisfied is likely to be of net benefit to Canada, (f) has failed to comply with any other provision of this Act or with the regulations, or (g) has entered into any transaction or arrangement primarily for a purpose related to this Act, the Minister may send a demand to the non-Canadian, requiring the non-Canadian, forthwith or within such period as is specified in the demand, to cease the contravention, to remedy the default, to show cause why there is no contravention of the Act or regulations or, in the case of undertakings, to justify any non-compliance therewith. Ministerial demand (2) The Minister may send a demand to a person or entity requiring that they immediately, or within any period that may be specified in the demand, cease the contravention, remedy the default or show cause why there is no contravention of the Act if the Minister believes that the person or the entity has failed to comply with (a) a requirement to provide information under section 25.12 or 25.5; (b) a written undertaking given to His Majesty in right of Canada and referred to in paragraph 25.3(6)(c) or 25.31(a); or (c) an order made under section 25.3 or 25.4. Contents of demand (3) A demand under subsection (1) or (2) shall indicate the nature of the proceedings that may be taken under this Act against the non-Canadian or other person or entity to which it is sent in the event that the non-Canadian, person or entity fails to comply with the demand. R.S., 1985, c. 28 (1st Supp.), s. 39; 2009, c. 2, s. 460 2024, c. 4, s. 20
Investment Canada Act — I-21.8 39.1
New undertaking 39.1 If the Minister believes that a non-Canadian has failed to comply with a written undertaking given to Her Majesty in right of Canada relating to an investment that the Minister is satisfied or is deemed to be satisfied is likely to be of net benefit to Canada, the Minister may, after the investment has been implemented, accept a new undertaking from the non-Canadian. 2009, c. 2, s. 461
Investment Canada Act — I-21.8 41
Vesting orders 41 (1) Where any voting interests or assets in respect of which an order is made under paragraph 40(2)(f) are owned by a non-Canadian outside Canada and that non-Canadian fails to comply with the order within such reasonable time as is fixed by the court that made the order, the court may, by order, vest those voting interests or assets in a trustee named by it who may thereupon, notwithstanding any other Act or law, do all such things and execute all such documents as are necessary to give effect to the order of the court. Application of proceeds (2) Any proceeds of the disposition of any voting interests or assets received by a trustee under subsection (1) shall first be applied to the payment of the trustee’s fees and expenses in acting as trustee and thereafter any balance remaining shall be paid by the trustee to those who would, but for the vesting order, have been entitled to receive the proceeds.
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Summary conviction offences 42 Every one who contravenes section 36 or who knowingly provides false or misleading information under this Act or the regulations is guilty of an offence punishable on summary conviction.
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Limitation period 43 Proceedings by way of summary conviction in respect of an offence under this Act may be instituted at any time within but not later than two years after the time when the subject-matter of the proceedings arose.
Investment Canada Act — I-21.8 45
Terms, conditions and undertakings 45 (1) All terms and conditions of, and all undertakings given in relation to, an investment that has been allowed under the Foreign Investment Review Act , chapter 46 of the Statutes of Canada, 1973-74, are enforceable under this Act as if the investment were subject to this Act. Legal proceedings under FIRA (2) Any legal proceedings taken in respect of an investment under section 19, 20 or 21 of the Foreign Investment Review Act , chapter 46 of the Statutes of Canada, 1973-74, that are pending on the coming into force of this Act may be continued in respect of that investment under this Act. Legal proceedings under this Act (3) Any legal proceedings may be taken under this Act in respect of an investment that has been the subject of any order or deemed allowance under section 12 or 13 of the Foreign Investment Review Act , chapter 46 of the Statutes of Canada, 1973-74. Privileged information (4) All information that is privileged under section 14 of the Foreign Investment Review Act , chapter 46 of the Statutes of Canada, 1973-74, remains privileged under this Act, subject to the provisions of section 36 of this Act. Pending notices (5) Where an investment, whether implemented or not, notice of which has been given under section 8 of the Foreign Investment Review Act , chapter 46 of the Statutes of Canada, 1973-74, has not, on the coming into force of this Act, been the subject of any order or deemed allowance under section 12 or 13 of the Foreign Investment Review Act , a complete notice under section 12 of this Act or a complete application under section 17 of this Act shall be deemed to have been received by the Director in respect of that investment on the day this Act came into force. Prior investments (6) Where an investment to which the Foreign Investment Review Act , chapter 46 of the Statutes of Canada, 1973-74, applied has been implemented, and no notice has been given in respect of that investment under section 8 of that Act prior to the coming into force of this Act, that investment shall be deemed to have been implemented on the day this Act came into force. Prior opinions (7) Where, on the coming into force of this Act, a person has a binding opinion furnished under section 4 of the Foreign Investment Review Act , chapter 46 of the Statutes of Canada, 1973-74, that the person is not a non-eligible person under that Act, that person is deemed to be a Canadian for so long as the material facts on which that opinion was based remain substantially unchanged or for two years from the date of the coming into force of this Act, whichever period is shorter. R.S., 1985, c. 28 (1st Supp.), s. 45; 1999, c. 31, s. 148
Investment Canada Act — I-21.8 Coming into force
Coming into force * 51 This Act or any provision thereof shall come into force on a day or days to be fixed by proclamation. * [Note: Act in force June 30, 1985, see SI/85-128.]
Investment Canada Act — I-21.8
Agreement within the meaning of subsection 2(1) of the Canada-Chile Free Trade Agreement Implementation Act
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Agreement within the meaning of section 2 of the Canada–Peru Free Trade Agreement Implementation Act
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Agreement within the meaning of section 2 of the Canada–Colombia Free Trade Agreement Implementation Act
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Agreement within the meaning of section 2 of the Canada–Panama Economic Growth and Prosperity Act
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Agreement within the meaning of section 2 of the Canada–Honduras Economic Growth and Prosperity Act
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Agreement within the meaning of section 2 of the Canada–Korea Economic Growth and Prosperity Act
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Agreement within the meaning of section 2 of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation Act
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Article 1.3 of the TPP within the meaning of section 2 of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation Act
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Agreement within the meaning of subsection 24(4) of this Act
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Agreement within the meaning of section 2 of the Canada–Ukraine Free Trade Agreement Implementation Act, 2023
Investment Canada Act — I-21.8 464
Transactions implemented during transitional period 464 An investment referred to in section 25.1 of the Investment Canada Act , as enacted by section 453 , implemented within the period beginning on February 6, 2009 and ending on the day on which this Act receives royal assent, is subject to review under section 25.3 of that Act, as enacted by section 453 , if the Minister of Industry sends a notice to the non-Canadian, within 60 days after the day on which this Act receives royal assent, indicating that the investment shall be subject to a review.
Investment Canada Act — I-21.8 149
Definitions 149 The following definitions apply in sections 150 to 153 . the Act means the Investment Canada Act. ( Loi ) transition period means the period beginning on April 29, 2013 and ending on the day on which sections 143 and 144 come into force. ( période transitoire )
Investment Canada Act — I-21.8
the Act means the Investment Canada Act. ( Loi )
Investment Canada Act — I-21.8
transition period means the period beginning on April 29, 2013 and ending on the day on which sections 143 and 144 come into force. ( période transitoire )
Investment Canada Act — I-21.8 150
Certain applications deemed never filed 150 Any application that is filed under section 17 of the Act before the day on which subsection 14.1(1) of the Act, as enacted by subsection 137 (1), comes into force and in respect of which the Minister of Industry has not issued a decision before that day is deemed never to have been filed if (a) the investment to which the application relates would be subject to subsection 14.1(1) of the Act, as enacted by subsection 137 (1), had the application been made on that day; and (b) the enterprise value of the assets to which the application relates is less than the amount referred to in paragraph 14.1(1)(a) of the Act, as enacted by subsection 137 (1).
Investment Canada Act — I-21.8 151
Application of subsection 26(2.31) 151 (1) The Minister of Industry may make a determination under subsection 26(2.31) of the Act, as enacted by subsection 143 (4), in respect of an entity that has implemented an investment during the transition period only if he or she has sent to the entity, within 60 days after the end of the transition period, a notice stating that he or she is undertaking an assessment of whether the entity was controlled in fact by one or more state-owned enterprises, as defined in section 3 of the Act, at the time the investment was implemented. Application of subsection 26(2.32) (2) For greater certainty, subsection 26(2.32) of the Act, as enacted by subsection 143 (4), applies if the notice referred to in subsection (1) has been sent.
Investment Canada Act — I-21.8 152
Application of subsection 28(6.1) 152 (1) If an investment has been implemented during the transition period, the Minister of Industry may make a determination under subsection 28(6.1) of the Act, as enacted by subsection 144 (4), in respect of an entity directly or indirectly involved in the investment only if he or she has sent to the entity, within 60 days after the end of the transition period, a notice stating that he or she is undertaking an assessment to determine whether the entity was controlled in fact by a state-owned enterprise, as defined in section 3 of the Act, at the time the investment was implemented, or whether there was an acquisition of control in fact of that entity by such a state-owned enterprise, as the case may be. Application of subsection 28(6.2) (2) For greater certainty, subsection 28(6.2) of the Act, as enacted by subsection 144 (4), applies if the notice referred to in subsection (1) has been sent.
Investment Canada Act — I-21.8 153
Applications under section 37 153 Section 37 of the Act, as it read immediately before the day on which section 145 comes into force, continues to apply in respect of applications made under that section 37 before that day.
Investment Canada Act — I-21.8 117
Investment Canada Act — Section 14.11 117 Any application that is filed under section 17 of the Investment Canada Act before the day on which section 14.11 of that Act as enacted by section 80 of this Act comes into force and in respect of which the Minister of Industry has not issued a decision before that day is deemed never to have been filed if (a) the investment to which the application relates would have been subject to subsections 14.11(1) or (2) of that Act, had the application been filed on that day; and (b) the enterprise value of the assets to which the application relates is less than the amount referred to in paragraph 14.11(1)(a) of that Act.
Investment Canada Act — I-21.8 194
Application for review — subsection 14.1(1) 194 Any application that is filed under section 17 of the Investment Canada Act before the day on which paragraph 14.1(1)(d) of that Act, as enacted by section 192 of this Act, comes into force and in respect of which the Minister of Industry has not made a decision before that day is deemed never to have been filed if (a) the investment to which the application relates would have been subject to subsection 14.1(1) of that Act, had the application been filed on that day; and (b) the enterprise value of the assets to which the application relates is less than the amount referred to in paragraph 14.1(1)(d) of that Act, as enacted by section 192 of this Act.
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Investment Canada Act 48 Any application that is filed under section 17 of the Investment Canada Act before the day on which section 19 of this Act comes into force and in respect of which the Minister of Industry has not issued a decision before that day is deemed never to have been filed if (a) the investment to which the application relates would have been subject to subsections 14.11(1) or (2) of the Investment Canada Act had the application been filed on that day; and (b) the enterprise value of the assets to which the application relates is less than the amount referred to in subsection 14.11(1) of that Act.
Investment Canada Act — I-21.8 50
Investment Canada Act 50 Any application that is filed under section 17 of the Investment Canada Act before the day on which section 23 of this Act comes into force and in respect of which the Minister of Industry has not made a decision referred to in section 23.1 of the Investment Canada Act before that day is deemed never to have been filed if (a) the investment to which the application relates would have been subject to subsection 14.11(1) or (2) of that Act had the application been filed on that day; and (b) the enterprise value of the assets to which the application relates is less than the amount determined in accordance with subsection 14.11(1) of that Act.
Investment Canada Act — I-21.8 22
Definitions 22 (1) The following definitions apply in this section. former Act means the Investment Canada Act as it read immediately before the day on which section 15 comes into force. ( ancienne loi ) new Act means the Investment Canada Act as it reads on the day on which section 15 comes into force. ( nouvelle loi ) Review continued under new Act (2) Subject to subsection (3), on or after the day on which section 15 comes into force, the review of any investment under Part IV.1 of the former Act in respect of which a measure has not been taken under subsection 25.3(6) of the former Act shall be taken up and continued in accordance with the new Act. Subsections 25.3(2) and (6) (3) If a notice has been sent under subsection 25.3(2) of the former Act in respect of the investment before the day on which section 15 comes into force, (a) the Minister shall, without delay after that day, send to the non-Canadian making the investment and to any person or entity from which the Canadian business or the entity referred to in paragraph 25.1(c) of the new Act is being acquired, a notice referred to in subsection 25.3(2) of the new Act; and (b) the prescribed period for the purposes of subsection 25.3(6) of the new Act is the period beginning on the day on which the order under subsection 25.3(1) of the former Act is made and ending 45 days after that day.
Investment Canada Act — I-21.8
former Act means the Investment Canada Act as it read immediately before the day on which section 15 comes into force. ( ancienne loi )
Investment Canada Act — I-21.8
new Act means the Investment Canada Act as it reads on the day on which section 15 comes into force. ( nouvelle loi )
Investment Canada Act — I-21.8 2
2 (1) Section 11 of the Investment Canada Act is amended by striking out “and” at the end of paragraph (a), by adding “and” at the end of paragraph (b) and by adding the following after paragraph (b): (c) an investment to acquire, in whole or in part, an entity carrying on all or any part of its operations in Canada and that has a place of operations in Canada, an individual or individuals in Canada who are employed or self-employed in connection with the entity’s operations or assets in Canada used in carrying on the entity’s operations, if (i) the entity carries on a prescribed business activity, (ii) the non-Canadian could, as a result of the investment, have access to, or direct the use of, material non-public technical information or material assets, and (iii) the non-Canadian would have, as a result of the investment, (A) the power to appoint or nominate any person who has the capacity to direct the business and affairs of the entity, such as a member of the board of directors or of senior management, a trustee of the entity or, in the case of a limited partnership, a general partner, or (B) prescribed special rights with respect to the entity. (2) Section 11 of the Act is renumbered as subsection 11(1) and is amended by adding the following: Regulations (2) The Governor in Council may make regulations defining “material assets” and “material non-public technical information” for the purposes of subparagraph (1)(c)(ii).
Investment Canada Act — I-21.8 3
1995, c. 1, par. 50(1)(a) 3 Section 12 of the Act is replaced by the following: Notice of investment 12 (1) A non-Canadian making an investment shall, in the prescribed manner, give notice of the investment that includes prescribed information to the Director (a) in the case of an investment referred to in paragraph 11(1)(b) in respect of a Canadian business that carries on a prescribed business activity or an investment referred to in paragraph 11(1)(c), no later than the prescribed time prior to the implementation of the investment; and (b) in the case of any other investment, within the prescribed period. Condition for investment (2) Subject to subsections 25.2(2) and 25.3(3), a non-Canadian who gives notice of an investment under paragraph (1)(a) shall not implement the investment unless the periods referred to in subsections 25.2(1) and 25.3(1) have expired.
Investment Canada Act — I-21.8 12
Notice of investment 12 (1) A non-Canadian making an investment shall, in the prescribed manner, give notice of the investment that includes prescribed information to the Director (a) in the case of an investment referred to in paragraph 11(1)(b) in respect of a Canadian business that carries on a prescribed business activity or an investment referred to in paragraph 11(1)(c), no later than the prescribed time prior to the implementation of the investment; and (b) in the case of any other investment, within the prescribed period. Condition for investment (2) Subject to subsections 25.2(2) and 25.3(3), a non-Canadian who gives notice of an investment under paragraph (1)(a) shall not implement the investment unless the periods referred to in subsections 25.2(1) and 25.3(1) have expired.
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4 1995, c. 1, par. 50(1)(a) (2) Subsection 13(2) of the Act is replaced by the following: Incomplete notice (2) If a notice given under section 12 is incomplete, the Director shall, within the prescribed period, send a notice to the non-Canadian, 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.
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7 (1) The portion of section 15 of the Act before paragraph (a) is replaced by the following: Other reviewable investments 15 An investment referred to in paragraph 11(1)(a) or (b) that is subject to notification under Part III and that would not otherwise be reviewable under this Part is reviewable under this Part if (2) Section 15 of the Act is renumbered as subsection 15(1) and is amended by adding the following: State-owned enterprise (2) Despite the limits set out in subsections 14(3), 14.1(1) and (1.1) and 14.11(1) and (2), an investment is reviewable under this Part if (a) the non-Canadian making the investment is a state-owned enterprise or is controlled by a state-owned enterprise unless the non-Canadian is a trade agreement investor; (b) the Governor in Council, on the recommendation of the Minister, is of the opinion that a review of the investment is in the public interest; (c) the Governor in Council issues an order for the review within 45 days after the certified date referred to in paragraph 13(1)(a); and (d) the Director sends the non-Canadian making the investment a notice for review.
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Other reviewable investments 15 An investment referred to in paragraph 11(1)(a) or (b) that is subject to notification under Part III and that would not otherwise be reviewable under this Part is reviewable under this Part if
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8 Paragraphs 17(2)(b) and (c) of the Act are replaced by the following: (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, within the prescribed period; 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(1)(b)(ii) or paragraph 15(2)(d).
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2009, c. 2, s. 453 12 (1) Paragraph 25.1(b) of the Act is replaced by the following: (b) to acquire control of a Canadian business in any manner described in section 28; (b.1) if the non-Canadian is a state-owned enterprise, to acquire any of the assets of a Canadian business; or (2) Section 25.1 of the Act is renumbered as subsection 25.1(1) and is amended by adding the following: For greater certainty (2) For greater certainty, paragraph (1)(c) includes an investment to acquire, in whole or in part, the assets of an entity referred to in that paragraph.