Law360 (April 16, 2009, 12:00 AM EDT) -- On March 12, 2009, major changes to Canada's competition law and foreign investment review process became law. These changes have important implications for current business practices and transactions.
Competition Act
The new law has substantially altered the merger notification process to parallel in many respects the current U.S. system.
There is now only one type of notification form with a waiting period of 30 days. Like the U.S., the 30-day waiting period can be extended if the Commissioner of Competition issues a request for additional information....
Canada's Amended Antitrust Law
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