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

Act current to 2015-11-16 and last amended on 2015-04-24. Previous Versions

Marginal note:Acquisition by more than one transaction or event
  •  (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.

  • Marginal note: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.

Marginal note:Contractual rights to acquire voting interests or assets
  •  (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.

  • Marginal note: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.

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.