(a) the acquisition of voting shares or other shares by a person in ordinary activity as a trader or securities trader; (c) a copy of a contract, under Section 25.4, authorizing the investment to be made. (5) If an investment: Whether it has been executed or not, under Section 8 of the Foreign Investment Review Act, Chapter 46 of the Canadian Statutes, 1973-74, is not subject to an injunction or allocation under Sections 12 or 13 of the Foreign Investment Act, a full notification under Section 12 of the Investment Act or a full application under Section 17 of this Act is deemed to be received by the Act. Director of this investment on the effective date of this law. 4. Despite paragraphs 14, paragraph 1, points (c) and (d), an investment described in the two paragraphs, made after this subsection came into force, is not verifiable, in accordance with Section 14, whether it is made by (ii) on the basis of the available information, and it is not in a position to determine whether the investment would harm national security. or every effort is made to process audit requests as quickly as possible. By law, the minister has 45 days to decide whether or not to authorize the investment. The Minister may unilaterally extend the 45-day period by an additional 30 days by sending a notification to the investor before the initial 45-day period expires. Further extensions are permitted if the investor and the minister agree to the renewal. If no authorization or notification of an extension is submitted within the current deadline, the investment is deemed approved. It is not uncommon for the Minister to extend the initial 45-day review period by 30 days to allow for full consideration of the investment. In the case of investment in cultural enterprises, the duration of the audit is usually at least 75 days (ss.21, 22, 23).
The case of direct acquisition must be distinguished from that of an indirect acquisition. In the case of an indirect acquisition, the investor acquires shares in a non-Canadian company that in turn owns shares in a Canadian company. Indirect investment is not verifiable before or after closing, unless the Canadian company is a „cultural activity“ or poses a national security issue. (2) Subject to subsection (3), if: Before the 45-day period referred to in point 1, an investment notice referred to in point 25.2(1) is sent and the period during which the Minister may forward the notification to subsection 1 expires thirty days after the expiry of the prescribed period for subsection 25.3 (1) or at the end of an additional period agreed upon by the Minister and the notifying parties.