16 December 2022
Bennett Jones LLP
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On December 7, 2022, François-Philippe Champagne, the Minister of Innovation, Science and Industry (the Minister), announced several proposed amendments to the national security regime under the Investment Canada Act (ICA) through the introduction of Bill C-34: An Act to amend the Investment Canada Act. This new bill represents the most substantial update of the ICA since the introduction of the national security regime in 2009.
According to the Minister, the amendments are aimed at introducing new tools to ensure that Canada can "continue addressing changing threats that may arise from foreign investments." The amendments include:
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