Significant amendments to Canada's competition and foreign investment laws passed third reading in the Senate and received royal assent late yesterday. The new provisions entail some of the most significant adjustments to Canada's competition laws in over two decades and among other changes will transform the merger review process and introduce a new per se criminal conspiracy offence. A more detailed summary of the changes can be found in our recent note, available here.
The majority of the competition and investment law changes come into effect immediately. The new conspiracy provisions, including consequential amendments to the Criminal Code related to conspiracies, come into force one year after royal assent.
For a more detailed discussion of these changes and their origin in a recent government-appointed panel study, you may refer to the article "Compete to Win? Implementation of the Competition Policy Review Panel Recommendations for Reform of the Canadian Competition Act " authored by members of our group in the upcoming edition of the Canadian Competition Record.
Should you wish to discuss the proposed changes and how they might impact your business, please contact a member of our national Competition | Antitrust group.
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