Marginal note:2009, c. 2, s. 452

139. Subsection 22(4) of the Act is replaced by the following:

Marginal note:2009, c. 2, s. 453

140. The portion of subsection 25.2(4) of the Act before paragraph (b) is replaced by the following:

Marginal note:2009, c. 2, s. 453

• 141. (1) The portion of subsection 25.3(6) of the Act before paragraph (a) is replaced by the following:

  • Marginal note:Ministerial action

    (6) After consultation with the Minister of Public Safety and Emergency Preparedness, the Minister shall, within the prescribed period,

• (2) Section 25.3 of the Act is amended by adding the following after subsection (6):

  • Marginal note:Extension

    (7) If the Minister is unable to complete the consideration of an investment within the prescribed period referred to in subsection (6), the Minister shall, within that period, send a notice to that effect to the non-Canadian. The Minister then has until the end of the period prescribed for this subsection, or any further period that the Minister and the non-Canadian agree on, to take the applicable measures described in paragraph (6)(a) or (b).

Marginal note:2009, c. 2, s. 453

• 142. (1) The portion of subsection 25.4(1) of the Act before paragraph (a) is replaced by the following:

  Marginal note:Governor in Council’s powers

  • 25.4 (1) On the referral of an investment under paragraph 25.3(6)(a) or subsection 25.3(7), the Governor in Council may, by order, within the prescribed period, take any measures in respect of the investment that he or she considers advisable to protect national security, including

• (2) Section 25.4 of the Act is amended by adding the following after subsection (1):

  • Marginal note:Extension

    (1.1) If the Minister considers that the Governor in Council is unable to complete the consideration of an investment within the prescribed period referred to in subsection (1), the Minister shall, within that period, send a notice to that effect to the non-Canadian. The Governor in Council then has until the end of the period prescribed for this subsection to, by order, take any of the measures referred to in subsection (1).

Marginal note:2009, c. 2, s. 454(1)

• 143. (1) The portion of subsection 26(1) of the Act before paragraph (a) is replaced by the following:

  Marginal note:Rules respecting control of entities

  • 26. (1) Subject to subsections (2.1) to (2.2), (2.31) and (2.32), for the purposes of this Act,

• Marginal note:2009, c. 2, s. 454(2)

  (2) Subsection 26(2) of the Act is replaced by the following:

  • Marginal note:Trusts

    (2) Subject to subsections (2.1) to (2.2), (2.31) and (2.32), if it can be established that a trust is not controlled in fact through the ownership of its voting interests, subsection (1) does not apply, and the trust is a Canadian-controlled entity if two-thirds of its trustees are Canadians.

• (3) Subsection 26(2.3) of the French version of the Act is replaced by the following:

  • Marginal note:Effet rétroactif

    (2.3) Le ministre peut fixer la date à laquelle la décision prise en vertu du paragraphe (2.1) ou la déclaration faite en vertu du paragraphe (2.2) est censée avoir pris effet; cette date ne peut cependant être antérieure au 19 juin 1992 et est censée être celle de la décision ou de la déclaration.

• Marginal note:2009, c. 2, s. 454(4)

  (4) Subsection 26(2.4) of the Act is replaced by the following:

  • Marginal note:Minister may determine — control by state-owned enterprise

    (2.31) If an entity qualifies as a Canadian-controlled entity by virtue of subsection (1) or (2), the Minister may nevertheless determine that the entity is not a Canadian-controlled entity if, after considering any information and evidence submitted by or on behalf of the entity or otherwise made available to the Minister or the Director, the Minister is satisfied that the entity is controlled in fact by one or more state-owned enterprises.

  • Marginal note:Minister may declare

    (2.32) If an entity referred to in subsection (2.31) has refused or neglected to provide, within a reasonable time, information that the Minister or the Director has requested and that the Minister considers necessary in order to make a decision under that subsection, the Minister may declare that the entity is not a Canadian-controlled entity.

  • Marginal note:Retroactivity possible

    (2.33) A determination made under subsection (2.31) or a declaration made under subsection (2.32) in respect of an entity referred to in subsection (2.31) may be retroactive to any date, not earlier than April 29, 2013, that the Minister specifies, in which case the determination or declaration shall, for all purposes of this Act, be deemed to have been made on the specified date.

  • Marginal note:Entity to be informed

    (2.4) The Minister shall inform the entity concerned, in writing, of any determination made under any of subsections (2.1), (2.11) and (2.31) or declaration made under subsection (2.2) or (2.32), and of any date specified under subsection (2.3) or (2.33), without delay after the determination or declaration is made.

Marginal note:2009, c. 2, s. 455(1)

• 144. (1) The portion of subsection 28(2) of the Act before paragraph (a) is replaced by the following:

  • Marginal note:Rules and presumptions respecting control of entities

    (2) Subject to subsections (4) to (5), (6.1) and (6.2), for the purposes of this Act,

• Marginal note:2009, c. 2, s. 455(2)

  (2) The portion of subsection 28(3) of the Act before paragraph (a) is replaced by the following:

  • Marginal note:Presumptions respecting acquisition of control

    (3) Subject to subsections (4) to (5), (6.1) and (6.2), for the purposes of this Act,

• (3) Subsection 28(6) of the French version of the Act is replaced by the following:

  • Marginal note:Effet rétroactif

    (6) Le ministre peut fixer la date à laquelle la décision prise en vertu du paragraphe (4) ou la déclaration faite en vertu du paragraphe (5) est censée avoir pris effet; cette date ne peut cependant être antérieure au 19 juin 1992 et est censée être celle de la décision ou de la déclaration.

• Marginal note:2009, c. 2, s. 455(4)

  (4) Subsection 28(7) of the Act is replaced by the following:

  • Marginal note:Minister may determine — control or acquisition of control by state-owned enterprise

    (6.1) The Minister may, after considering any information and evidence made available to the Minister or the Director, determine that an entity is or is not controlled by another entity, or that there has or has not been an acquisition of control of an entity, if the Minister is satisfied that the entity is or is not controlled in fact by a state-owned enterprise or that there has or has not been an acquisition of control in fact of that entity by a state-owned enterprise, as the case may be.

  • Marginal note:Minister may declare — control or acquisition of control by state-owned enterprise

    (6.2) If an entity or a state-owned enterprise has refused or neglected to provide, within a reasonable time, information that the Minister or the Director has requested and that the Minister considers necessary in order to make a decision under subsection (6.1), the Minister may declare that the entity is or is not controlled by a state-owned enterprise or that there has or has not been an acquisition of control of the entity by a state-owned enterprise, as the case may be.

  • Marginal note:Retroactivity possible

    (6.3) A determination made under subsection (6.1) or a declaration made under subsection (6.2) may be retroactive to any date, not earlier than April 29, 2013, that the Minister specifies, in which case the determination or declaration shall, for all purposes of this Act, be deemed to have been made on the specified date.

  • Marginal note:Entity to be informed

    (7) The Minister shall inform the entity concerned, in writing, of any determination made under any of subsections (4), (4.1) and (6.1) or declaration made under subsection (5) or (6.2) and of any date specified under subsection (6) or (6.3), without delay after the determination or declaration is made.

Marginal note:1994, c. 47, s. 135

• 145. (1) Subsection 37(1) of the Act is replaced by the following:

  Marginal note:Ministerial opinions

  • 37. (1) If any question arises under this Act as to whether an individual or entity that proposes to establish, or to acquire control of, a Canadian business that carries on a specific type of business activity referred to in paragraph 15(a) is a Canadian, the Minister shall, on application by or on behalf of the individual or entity consider the application and any information and evidence submitted in connection with the application and, unless the Minister concludes that the submitted information and evidence is not sufficient to enable the Minister to reach an opinion on the question, shall provide the applicant with a written opinion for the guidance of the applicant.

• (2) Subsection 37(2) of the Act is replaced by the following:

  • Marginal note:Other opinions

    (2) Anyone may apply to the Minister, with supporting information, for an opinion on the applicability to them of any provision of this Act or the regulations to which subsection (1) does not apply, and the Minister may provide the applicant with a written opinion for the applicant’s guidance. For greater certainty, the application may be in relation to any question that arises under this Act as to whether the applicant is a Canadian.