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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Canada | Publication | May 13, 2020 – 9 AM ET
Prime Minister Trudeau recently announced new measures to assist agribusinesses, $252 million in federal funding and an increase of $200 million in borrowing capacity to support agribusinesses. These measures include:
The announcement also noted that programs such as AgriInsurance, AgriStability, AgriInvest, and AgriRecovery are designed to help producers remain viable under challenging circumstances. The 2020 AgriStability program enrollment deadline was extended to July 3, 2020, while the AgriRecovery program will become more flexible to allow the federal government to provide funding directly to producers, regardless of their respective province’s ability to contribute.
Further, the announcement recognized previous federal government measures aimed at assisting agribusinesses, including:
Agribusinesses will need to carefully monitor the details of these funding initiatives, as the eligibility criteria and the application process are still to be released. It will be important as details are released to ascertain how these funds will intersect with the programs already in place for agribusinesses at the federal and provincial levels and to act quickly to receive the full benefit of these programs.
While the prime minister did not disclose many details in making his announcement, it is reasonable to expect that the same trust-based principles that apply to other federal government funding and subsidy programs will apply and the government will be relying on the good faith of agribusinesses in reporting their eligibility and completing the application process. In the case of other funding programs, the government has indicated that businesses found to have fraudulent claims may be subject to penalties, including fines or imprisonment.
For information about other available government relief programs, refer to our guide.
The authors wish to thank Preston Brasch, articling student, for his assistance in preparing this legal update.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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