Contents
Introduction
2
Overview: National Security Review and Net Benefit Review
3
4 5 5 6 6
Who is a “Non-Canadian”?
What constitutes a “Canadian Business” or a “Canadian-Linked Entity”?
What is an Acquisition of Control? What is a State-Owned Enterprise? What are the available exemptions?
National Security Review Scope and Process
7
7 7 8
NSR timing
NSR resolution
Substantive NSR considerations Enforcement of the NSR provisions
10 11 12
Voluntary notifications under the NSR framework
Pending preclosing notice requirements under the NSR framework
Net Benefit Review Scope and Process
13
13 13 13 14 14 14 16 16 17 18
Which NBR threshold will apply?
Trade agreement investors
WTO investors
Indirect acquisitions Cultural businesses
Monetary thresholds for NBRs
Net benefit to canada assessment factors
NBR undertakings
NBR timing
Enforcement of the NBR provisions
Illustration of NSR and NBR Timing
19
Prohibitions and Remedies
20
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