Critics say feds taking ‘scattergun’ approach to investment law reforms

Amidst an uproar over an RCMP equipment contract being awarded to a company with links to China, the federal government announced Wednesday that it’s tightening reviews of foreign investment in strategically-important sectors.

The updates to the act include an increase in fines for non-compliance, a requirement for investors to alert the government 30 days before a deal closes, and authority for the industry minister to impose temporary conditions during a security review. “If someone wants to get around the system, this isn’t going to stop them,” said Schotter. “It’s a scattergun approach. There are a bunch of small things thrown against the wall. I don’t want to call it virtue-signalling, but I think this is something they felt they had to do.”

International trade lawyer Barry Appleton said the changes could also spook some investors away from Canada, a country whose economy depends heavily on foreign investment. The $549,637 “radio frequency filtering” contract was awarded in October 2021 to Aurora-based Sinclair Technologies. The contract includes securing the RCMP’s radio communications from eavesdropping. According to Radio-Canada, the Chinese government owns 10 per cent of Sinclair’s parent company, Hytera Communications.In Ottawa Wednesday, Conservative MP Garnett Genuis blasted the government’s decision to give the contract to Sinclair.

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Ottawa to unveil investment law reforms to address ‘national security concerns’ - National | Globalnews.ca'These changes represent the most significant updates of the ICA in more than a decade and will address evolving national security concerns,' the press release says. Sooo like where $27.4 billion in covid relief money went? Or the millions that is still unaccounted for with the arrive can app? Let me guess, our fearless dick-tater and his corrupt cronies are shoving this through the house? Shall I continue? State sponsored media Sounds like they are trying to suck and blow at the same time.
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