stronger penalties for non-compliance with the ICA; expanded decision-making powers at the Ministerial (as opposed to Cabinet) level to extend national security reviews, impose conditions during a national security review and accept undertakings to mitigate national security risk; expanded ability to share information obtained during the national security review process with international counterparts; and new rules for the protection and use of sensitive information (e.g., classified materials) in legal proceedings arising from enforcement under the ICA. Other Foreign Ownership Restrictions – In addition to the generally applicable provisions in the ICA, there are also specific restrictions on foreign ownership applicable to certain industries, such as airlines, telecommunications, broadcasting, newspapers, magazines and periodicals.
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Canadian Mergers & Acquisitions
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