Industry committee  We have both. I don't have those numbers with me. Richard, do you wish to add anything to that?

Industry committee  You will not find the words “strategic resource” in the act. The factors that the minister considers as part of his likely net benefit determination are listed under section 20 of the act. There are six factors that are clearly defined. They are the factors that the minister must consider when making his ultimate decision.

Industry committee  Richard, do you have that information?

Industry committee  The act provides 45 days plus an extension of 30 days, which is within the discretion of the minister. Then it can be further extended if the investor and the minister agree, so the length of time is on a case-by-case basis.

Industry committee  Yes. On that one, I think I will turn to Maître Legault.

Industry committee  Would you mind repeating that, please?

Industry committee  The act is pretty clear in terms of the powers that are given to the minister and the administrators in terms of enforcement. I think I went through that in great detail earlier on. As part of the application, investors have to submit detailed plans. Investors have to provide information.

Industry committee  I wouldn't want to speculate on--

Industry committee  That being said—again, this is section 36 kicking in—it's very difficult for me to talk about individual transactions. You're asking if there are instances. I would say, really, that in terms of the act and how it works now, there are provisions in the act that allow for the minister to take enforcement actions.

Industry committee  There are not many transactions where withdrawals take place. I don't have the exact number. Richard, do you have that?

Industry committee  Again, I would say that under the net benefit test, the economic test under the act, the factors that can be considered are very clearly laid out. There are six factors and those are the factors the minister can consider. Under national security, what the provision calls for is that after consulting with the Minister of Public Safety and Emergency Preparedness, if the minister thinks that a transaction might be injurious to national security, then the minister can go to the Governor in Council and have the Governor in Council make a determination as to whether the transaction should be reviewed.

Industry committee  Under the responsibility of the Minister of Industry, there has been one. I am not aware of how many there have been under the review of the Minister of Canadian Heritage.

Industry committee  I will make two comments and then turn it over to my colleague, Richard Saillant. Under the Investment Canada Act, as a result of the last round of changes to the statute in 2009, there are two tests. There's a likely net benefit test, and there is the national security provision, which is a new part under the act.

Industry committee  I'll come to that in a minute. Section 25.1 of the act actually “applies in respect of an investment, implemented or proposed, by a non-Canadian”. The threshold does not apply. The tests apply to any transaction that is to take place. This lists establishing a new Canadian business, acquiring control of a Canadian business, and acquiring in whole or in part a Canadian business or the assets of a Canadian business.

Industry committee  There's also section 23.1 of the act in terms of disclosure. Section 23.1 of the act says that the minister can provide reasons for any decisions that are made under a number of paragraphs. This provision requires the minister to give reasons to the investor for a disallowance and authorizes the minister to give those reasons to the investor for allowing a transaction.