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Investment Canada Act

When will an investment be reviewable?


An investment is reviewable if there is an acquisition of a Canadian business and the asset value of the Canadian business being acquired equals or exceeds the following thresholds:
  1. For non-WTO investors, the threshold is Cdn$5 million for a direct acquisition and over Cdn$50 million for an indirect acquisition; the Cdn$5 million threshold will apply however for an indirect acquisition if the asset value of the Canadian business being acquired exceeds 50% of the asset value of the global transaction.

  2. Except as specified in paragraph (c) below, a threshold is calculated annually for reviewable direct acquisitions by or from WTO investors. The threshold for 2007 is Cdn$281 million. Pursuant to Canada's international commitments, indirect acquistions by or from WTO investors are not reviewable.

  3. The limits set out in paragraph (a) a apply to all investors for acquisitions of a Canadian business that:

    1. engages in the production of uranium and owns an interest in a producing uranium property in Canada;
    2. provides any financial service;
    3. provides any transportation service; or
    4. is a cultural business.

Notwithstanding the above, any investment which is usually only notifiable, including the establishment of a new Canadian business, and which falls within a specific business activity listed in Schedule IV of the Regulations Respecting Investment in Canada, may be reviewed if an Order-in-Council directing a review is made and a notice is sent to the Investor within 21 days following the receipt of a certified complete notification.

Source: Industry Canada (10/2007)

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