Security concerns compel Ottawa to make 'most significant update' to Investment Canada Act in a decade

“We need to be more vigilant and this is going in that direction,” said Champagne, who described the proposed changes as the “most significant update of the law in more than a decade.”Article content

of the ICA that determines whether deals could be “injurious to national security,” requiring lengthy review.Article content Some of the sectors that the government will be keeping an eye on include critical minerals, artificial intelligence and businesses dealing with personal data, said Champagne.Article content

The bill also includes a provision that would allow the minister to disclose information about an investor to allies to support their foreign investment and national security reviews. Currently, information about a specific investor cannot be disclosed.Article content

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