Bill C-34

National Security Review of Investments Modernization Act

An Act to amend the Investment Canada Act

Sponsor

François-Philippe Champagne  Liberal

Status

This bill has received Royal Assent and is, or will soon become, law.

Summary

This is from the published bill. The Library of Parliament has also written a full legislative summary of the bill.

This enactment amends the Investment Canada Act to, among other things,
(a) require notice of certain investments to be given prior to their implementation;
(b) authorize the Minister of Industry, after consultation with the Minister of Public Safety and Emergency Preparedness, to impose interim conditions in respect of investments in order to prevent injury to national security that could arise during the review;
(c) require, in certain cases, the Minister of Industry to make an order for the further review of investments under Part IV.1;
(d) allow written undertakings to be submitted to the Minister of Industry to address risks of injury to national security and allow that Minister, with the concurrence of the Minister of Public Safety and Emergency Preparedness, to complete consideration of an investment because of the undertakings;
(e) introduce rules for the protection of information in the course of judicial review proceedings in relation to decisions and orders under Part IV.1;
(f) authorize the Minister of Industry to disclose information that is otherwise privileged under the Act to foreign states for the purposes of foreign investment reviews;
(g) establish a penalty not exceeding the greater of $500,000 and any prescribed amount, for failure to give notice of, or file applications with respect to, certain investments; and
(h) increase the penalty for other contraventions of the Act or the regulations to the greater of $25,000 and any prescribed amount for each day of the contravention.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.

Votes

Nov. 20, 2023 Passed 3rd reading and adoption of Bill C-34, An Act to amend the Investment Canada Act
Nov. 7, 2023 Passed Concurrence at report stage of Bill C-34, An Act to amend the Investment Canada Act
Nov. 7, 2023 Failed Bill C-34, An Act to amend the Investment Canada Act (report stage amendment) (Motion 3)
Nov. 7, 2023 Passed Bill C-34, An Act to amend the Investment Canada Act (report stage amendment) (Motion 1)
Nov. 6, 2023 Passed Time allocation for Bill C-34, An Act to amend the Investment Canada Act
April 17, 2023 Passed 2nd reading of Bill C-34, An Act to amend the Investment Canada Act

Industry, Science and Technology Committee, on April 26, 2023

  • Charles Vincent, Assistant Deputy Minister, Small Business and Marketplace Services, Department of Industry
  • James Burns, Senior Director, Investment Review Branch, Department of Industry

Industry, Science and Technology Committee, on May 1, 2023

  • Charles Burton, Senior Fellow, Centre for Advancing Canada's Interests Abroad, Macdonald-Laurier Institute, As an Individual
  • Daniel Schwanen, Vice-President, Research, C.D. Howe Institute
  • Dan Ciuriak, Senior Fellow, Centre for International Governance Innovation
  • Jim Balsillie, Chair, Council of Canadian Innovators
  • Sandy Walker, Chair, Competition Law and Foreign Investment Review Section, The Canadian Bar Association
  • Michael Caldecott, Chair, Foreign Investment Review Committee, Competition Law and Foreign Investment Review Section, The Canadian Bar Association

Industry, Science and Technology Committee, on May 3, 2023

  • Patrick Leblond, Associate Professor, Graduate School of Public and International Affairs, Faculty of Social Sciences, University of Ottawa, As an Individual
  • Ian Lee, Associate Professor, Sprott School of Business, Carleton University, As an Individual
  • Malcolm Bruce, Chief Executive Officer, Edmonton Global

Industry, Science and Technology Committee, on May 8, 2023

Industry, Science and Technology Committee, on May 15, 2023

  • Subrata Bhattacharjee, Partner and National Chair, Competition and Foreign Investment Review Group, Borden Ladner Gervais LLP, As an Individual
  • Chris Hersh, Partner, Norton Rose Fulbright Canada LLP, As an Individual
  • Navin Joneja, Partner and Co-Chair, Competition, Antitrust and Foreign Investment Group, Blake, Cassels and Graydon LLP, As an Individual
  • Joshua Krane, Partner, Competition, Antitrust and Foreign Investment, McMillan LLP

Industry, Science and Technology Committee, on May 29, 2023

  • Laura Black, Senior Counsel, As an Individual
  • Kate McNeece, Partner, Competition, Antitrust and Foreign Investment, McCarthy Tétrault LLP, As an Individual
  • Christian Paradis, Lawyer and Former Minister, As an Individual
  • Bob Fay, Managing Director, Digital Economy, Centre for International Governance Innovation
  • Tim Gilbert, Managing Partner, Gilbert's LLP

Industry, Science and Technology Committee, on June 7, 2023

  • Mark Schaan, Senior Assistant Deputy Minister, Strategy and Innovation Policy Sector, Department of Industry

Industry, Science and Technology Committee, on June 14, 2023

  • Mark Schaan, Senior Assistant Deputy Minister, Strategy and Innovation Policy Sector, Department of Industry

Industry, Science and Technology Committee, on June 19, 2023

  • Mark Schaan, Senior Assistant Deputy Minister, Strategy and Innovation Policy Sector, Department of Industry

Industry, Science and Technology Committee, on June 21, 2023

  • Mark Schaan, Senior Assistant Deputy Minister, Strategy and Innovation Policy Sector, Department of Industry

Industry, Science and Technology Committee, on Sept. 19, 2023

  • Mark Schaan, Senior Assistant Deputy Minister, Strategy and Innovation Policy Sector, Department of Industry

Industry, Science and Technology Committee, on Sept. 21, 2023