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Investment Canada Act
The Investment Canada Act (ICA)〔(Full text of Investment Canada Act legislation )〕 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.〔〔("Economic Action Plan 2013 Act", No. 1, SC 2013, c 33 )〕 Pertinent regulations include the Investment Canada Regulations, SOR/85-611.〔(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 2014, Canadian policy is to consider over $354 million "significant." The determination of what substantially constitutes the locus of control of a corporation is governed by the Canadian Ownership and Control Determination Act.〔("Canadian Ownership and Control Determination Act", RSC 1985, c C-20 )〕
== History ==
The Act was intended to signal Canada's openness to foreign investment and coincided with a narrowed mandate of the Foreign Investment Review Agency (FIRA), which was renamed Investment Canada. FIRA had been set up by Pierre Trudeau's Liberal government to limit increasing US ownership of Canadian business.〔("The impact of government policies on foreign direct investment: the Canadian experience." ) Article from: Journal of International Business Studies, 22 Sep 1999 by Steven Globerman and Daniel M Shapiro〕 Canadian nationalists criticized FIRA's effectiveness, noting that in practice it was rarely used to actually forbid an investment.〔("FIRA: Instrument of Regulation or Vote-Maximization" ); Pauwels, Jacques R. 23 Osgoode Hall L. J. 131 (1985)〕 The business community and opposition Progressive Conservative Party criticized FIRA for its activism, saying it had stifled investment from the emerging global economy.〔http://www.thecanadianencyclopedia.com/index.cfm?PgNm=TCE&Params=A1ARTA0002896〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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