Other Exemptions Some of the provisions setting out additional exemptions are highly technical, and parties should review their circumstances with competition law counsel. Other exemptions include the following:
Notification Form The form to be completed by each party to the transaction requires specific statutorily prescribed information about the transaction (e.g., structure and consideration); the business of each of the parties and their respective affiliates; detailed customer and supplier information; and all studies, surveys, analyses and reports that were prepared or received by an officer or director of the party for the purpose of evaluating or analyzing the proposed transaction with respect to market shares, competition, competitors, markets, potential for sales growth or expansion into new products or geographic regions.
(a) Acquisitions of Voting Shares or Interests in Combinations Solely for the Purpose of Underwriting the Shares or Interests
Underwriting of a security refers to the primary or secondary distribution of the security, in respect of which a prospectus is required to be filed, accepted or approved under a Canadian or foreign securities law regime, or would be required to be filed, accepted or approved but for an express exemption under a Canadian or foreign securities law regime. (b) Gifts, Intestate Successions or Testamentary Dispositions Gifts, intestate successions and testamentary dispositions are exempt from notification. (c) Transactions Exempted by the Canadian Minister of Finance A merger under the federal Bank Act, Cooperative Credit Associations Act, Insurance Companies Act or Trust and Loan Companies Act is exempt from merger notification and review if the Canadian Minister of Finance has certified to the Commissioner that the merger is in the public interest. (d) Asset Securitization Transactions The Notifiable Transactions Regulations exempt certain types of transactions involving transfers of financial assets that are entered into for the purpose of obtaining funds or credit or for related financial purposes whereby the financial assets continue to be administered either by the transferor or by an agent, trustee or other person who meets specified criteria.
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Pre-Merger Notification Guide
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