Special Economic Measures (Burma) Regulations

Version of section 7 from 2007-12-13 to 2012-04-23:

Marginal note:Investment — property in Burma held by or on behalf of Burma or national of Burma not ordinarily resident in Canada
  •  (1) No person in Canada and no Canadian outside Canada shall invest in property situated in Burma and set out in subsection (3) held by or on behalf of Burma or a national of Burma who does not ordinarily reside in Canada.

  • Marginal note:Investment — property held by or on behalf of a person in Burma

    (2) No person in Canada and no Canadian outside Canada shall invest in property set out in subsection (3) held by or on behalf of a person in Burma, including an entity carrying on business in Burma other than a national of Burma, by

    • (a) acquiring a controlling interest in an entity that invests in property situated in Burma and set out in subsection (3);

    • (b) establishing, with a controlling interest, an entity that invests in property situated in Burma and set out in subsection (3); or

    • (c) holding a controlling interest in an entity that invests, after the date of the coming into force of the Regulations, in property situated in Burma and set out in subsection (3).

  • Marginal note:Property

    (3) Subsections (1) and (2) apply in respect of the following property:

    • (a) assets of an entity;

    • (b) equity in an entity;

    • (c) a debt security of an entity;

    • (d) a loan to an entity;

    • (e) an interest or a right in an entity that entitles the owner to a share in income or profits of the entity;

    • (f) an interest or a right in an entity that entitles the owner to a share in the assets of that entity;

    • (g) property used or intended to be used for the purpose of economic benefit or any other benefits; or

    • (h) interest or rights arising from the commitment of capital or other resources, including

      • (i) contracts involving an investor’s property, turnkey construction contracts, and concessions including the right to search for and extract oil and other resources, and

      • (ii) contracts when the remuneration depends substantially on the production, revenues or profits of an entity.

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