Publication
Ireland
On 31 October 2023, the Screening of Third Country Transactions Act 2023 (the “Act”), which establishes a new foreign direct investment ("FDI") screening regime in Ireland, was enacted.
Author:
Canada | Publication | September 22, 2023
On September 21, the Minister of Finance tabled Bill C-56, which includes, among other things, proposed amendments to the Competition Act (the Act) including (i) extending the Commissioner of Competition’s compulsory powers, exercised subject to court orders, to include market studies conducted at the government’s direction, (ii) allowing the Competition Tribunal (the Tribunal) to make certain orders if the significant purpose of the agreement or arrangement is to prevent or lessen competition in any market, even if the parties to an arrangement or agreement are not competitors, and (iii) repealing the exception available for efficiencies gains brought about by mergers.1
This comes after the Prime Minister recently announced the government’s intention to introduce a first set of legislative amendments to the Act.2 The Minister of Innovation, Science and Industry (the ISED Minister) had also previously announced his intention to undertake a review of the Act,3 and the Government of Canada launched a consultation process for the review of the Act and published a corresponding discussion paper on the modernization of the Act on November 17, 2022.4 The consultation process concluded on March 31, 2023, and the government published a report on the feedback it had received and some considerations raised.5
The first phase of targeted amendments to the Act received royal assent in June 2022.6
The proposed amendments included in Bill C-56 are:
Bill C-56 was tabled one week after the Prime Minister’s announcement on the government’s intention to further amend the Act, suggesting the government plans to have the proposed amendments implemented as quickly as possible. The bill will be debated and revised in committee in the House of Commons and Senate.
It is important to note these are likely only the next set of amendments to the Act, and further amendments are expected as part of the broader “comprehensive review” of the competition framework in Canada. We will continue to monitor the developments in this area and provide further analysis on any resulting amendments to the Act.
Voir nos actualités juridiques antérieures sur les modifications apportées à la Loi : L’heure est au changement : d’importantes modifications à la Loi sur la concurrence ont été adoptées – et ce n’est que le début… | Canada | Cabinet juridique mondial | Norton Rose Fulbright et Vague de changements : le gouvernement fédéral apporte des modifications majeures à la Loi sur la concurrence (Canada) | Canada | Cabinet juridique mondial | Norton Rose Fulbright.
Publication
On 31 October 2023, the Screening of Third Country Transactions Act 2023 (the “Act”), which establishes a new foreign direct investment ("FDI") screening regime in Ireland, was enacted.
Publication
The EU Foreign Subsidies Regulation, or FSR, is intended to prevent or remedy distortions of the EU internal market caused by “foreign” – meaning non-EU – subsidies benefitting companies active in the EU.
Publication
The conventional wisdom is that ‘securitisation caused the great financial crisis’ (GFC). A further piece of conventional wisdom is that this was due to the misalignment of incentives between securitisation originators and securitisation investors . This conventional wisdom in turn drove much of the regulation of securitisation we now have.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023