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Message: Re: Dec 22
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Nov 10, 2020 09:47AM

If we don't like what may come down, this could be our last hope...but I wouldn't hold my breath with the current government in Ottawa:

 

https://www.lexology.com/library/detail.aspx?g=732e45b0-48ee-4756-bc7f-89c91f176f3c

What post-closing or retroactive powers do the authorities have to review, challenge or unwind a transaction that was not otherwise subject to pre-merger review?

Any transaction that involves a non-Canadian is potentially subject to a national security review, which can occur before or after closing. After the national security review, the minister may deny the investment, ask for undertakings, provide terms or conditions for the investment or, where the investment has already been made, require divestment. The minister has 45 days, after a notification has been certified, or after the implementation of an investment that does not require notification, to initiate a national security review (see question 9).

As discussed in question 5, there are provisions under the Investment Canada Act that significantly affect foreign investors whom the Canadian government considers SOEs. The minister has broad powers to declare an entity to be an SOE and to declare an otherwise non-reviewable acquisition by an SOE to be subject to review. Furthermore, the minister may make these determinations retroactively.

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