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Investment Canada Regulations (SOR/85-611)

Regulations are current to 2020-06-17 and last amended on 2017-09-21. Previous Versions

Acquisitions Exempted from Review by Subsection 14.1(4) of the Act

  •  (1) In this section, non-Canadian refers to

    • (a) a WTO investor; or

    • (b) a non-Canadian, other than a WTO investor, if the Canadian business that is the subject of the investment is controlled by a WTO investor immediately prior to the implementation of the investment.

    However, it does not refer to a non-Canadian if the Canadian business that is the subject of the investment is a cultural business

  • (2) For the purpose of section 12 of the Act, if the acquisition of a Canadian business by a non-Canadian is exempted from review by subsection 14.1(4) of the Act, the value of the assets of the Canadian business is their value calculated in accordance with section 3.1.

  • SOR/2015-64, s. 5

Signing Authority

  •  (1) When a notice or application is required by section 12 or 17 of the Act, it shall be signed by

    • (a) the investor, if the investor is an individual;

    • (b) a director or officer of the investor, if the investor is a corporation; or

    • (c) an individual who exercises the powers of a director or officer, if the investor is an entity other than a corporation.

  • (2) The person who signs the notice or application shall represent that the information it contains is complete and correct to the best of their knowledge and belief.

  • SOR/2015-64, s. 6

Notice of Investment

 A notice required to be given by an investor under section 12 of the Act shall be in writing, contain the information prescribed in Schedule I and be sent to the Director.

  • SOR/2015-64, s. 6

Application for Review

 An application required to be filed by an investor under subsection 17(1) of the Act shall be in writing, be sent to the Director and contain

  • (a) the information prescribed in Schedule II, if the application relates to an investment that is reviewable under section 14 of the Act; or

  • (b) the information prescribed in Schedule III, if the application relates to an investment that is reviewable under section 15 of the Act.

  • SOR/2015-64, s. 6

Information Respecting a Canadian Business

 Where control of an entity carrying on a Canadian business and control of one or more other entities in Canada is acquired, directly or indirectly, the information required under sections 5 and 6 relating to the Canadian business shall include information respecting all entities so acquired whose business activities comprise the Canadian business.

Prescribed Business Activities

 For the purposes of paragraph 15(a) of the Act, the specific types of business activities set out in Schedule IV are hereby prescribed.

 
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