Investment Canada Act (R.S.C., 1985, c. 28 (1st Supp.))

Act current to 2017-11-20 and last amended on 2017-09-21. Previous Versions

Marginal note:Business partly in Canada
  •  (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.

  • Marginal note: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.

Timing Rules

Marginal note:New Canadian businesses
  •  (1) The time at which a new Canadian business is established is the time at which it becomes a Canadian business.

  • Marginal note: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.

Sending Notices, Receipts or Demands

Marginal note:Means of sending

 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.

Operation of Other Acts

Marginal note:Operation of other Acts

 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.

PART VIGeneral

Regulations

Marginal note:Regulations
  •  (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.

  • Marginal note: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).

  • Marginal note: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.

  • Marginal note: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.

  • Marginal note: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.

Privileged Information

Marginal note:Privileged information
  •  (1) Subject to subsections (3) to (4), all information obtained with respect to a Canadian, a non-Canadian, a business or an entity referred to in paragraph 25.1(c) by the Minister or an officer or employee of Her Majesty in the course of the administration or enforcement of this Act is privileged and no one shall knowingly communicate or allow to be communicated any such information or allow anyone to inspect or to have access to any such information.

  • Marginal note:Evidentiary privilege

    (2) Notwithstanding any other Act or law but subject to subsections (3) and (4), no minister of the Crown and no officer or employee of Her Majesty in right of Canada or a province shall be required, in connection with any legal proceedings, to give evidence relating to any information that is privileged under subsection (1) or to produce any statement or other writing containing such information.

  • Marginal note:Communication or disclosure of information

    (3) Information that is privileged under subsection (1) may, on such terms and conditions and under such circumstances as the Minister deems appropriate,

    • (a) on request in writing to the Director by or on behalf of the Canadian or non-Canadian to which the information relates, be communicated or disclosed to any person or authority named in the request; or

    • (b) for any purpose relating to the administration or enforcement of this Act, be communicated or disclosed to a minister of the Crown in right of Canada or a province or to an officer or employee of Her Majesty in right of Canada or a province.

  • Marginal note:Investigative bodies

    (3.1) Information that is privileged under subsection (1) may be communicated or disclosed by the Minister to a prescribed investigative body, or an investigative body of a prescribed class, if the communication or disclosure is for the purposes of the administration or enforcement of Part IV.1 and that body’s lawful investigations. The information may also be communicated or disclosed by that body for the purposes of those investigations.

  • Marginal note:Exceptions

    (4) Nothing in this section prohibits the communication or disclosure of

    • (a) information for the purposes of legal proceedings relating to the administration or enforcement of this Act;

    • (b) information contained in any 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;

    • (c) information to which the public has access;

    • (d) information the communication or disclosure of which has been authorized in writing by the Canadian or the non-Canadian to which the information relates;

    • (e) information contained in

      • (i) any receipt sent pursuant to subsection 13(1) relating to an investment that is not reviewable pursuant to subsection 13(3),

      • (ii) any notice sent under subsection 21(1) or (9), 22(2) or (4), 23(1) or (3) or 25.2(1), paragraph 25.2(4)(a), subsection 25.3(2), paragraph 25.3(6)(b) or subsection 25.3(7), or

      • (iii) any demand sent by the Minister under section 39, other than a demand sent for the purposes of the administration or enforcement of Part IV.1;

    • (e.1) information contained in reasons given by the Minister for sending a notice under subsection 23(1);

    • (e.2) the fact that an order was made under subsection 25.4(1) and 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

      • (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;

    • (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).

  • Marginal note: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.

  • Marginal note: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.

  • Marginal note: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.

  • Marginal note: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.
 
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