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About: Investment Canada Act     Goto   Sponge   NotDistinct   Permalink

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The Investment Canada Act (ICA) is a Canadian federal law governing large foreign direct investment in Canada. The ICA was one of the first acts of Brian Mulroney's newly elected Progressive Conservative government, receiving royal assent on 20 June 1985. It has been amended at various times, including recently the Economic Action Plan 2013 Act. Pertinent regulations include the Investment Canada Regulations, SOR/85-611. The Act empowers the government to forbid foreign investments of "significant" size if they do not present a "net benefit to Canada." As of 2017, Canadian policy is to consider over $1 billion "significant." The determination of what substantially constitutes the locus of control of a corporation is governed by the .