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

Act current to 2014-06-12 and last amended on 2013-06-26. Previous Versions

Marginal note:Receipt
  •  (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).

  • Marginal note: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.

  • Marginal note: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.
Marginal note:Matters to be referred to Minister
  •  (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.

  • Marginal note: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.
Marginal note:Factors

 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;

  • (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

  • (f) the contribution of the investment to Canada’s ability to compete in world markets.