- Investment Canada Act - ICA
- A piece of legislation designed to provide for the review of significant investments made in Canada by non-Canadians in order to ensure they benefit Canada. The Investment Canada Act provides regulations pertaining to non-Canadians who acquire control of existing Canadian businesses, or who establish new Canadian businesses. Such individuals or entities must submit a notification or an application for review under the Investment Canada Act.
A Canadian federal law, the Investment Canada Act governs foreign direct investment within Canada. The act authorizes the Canadian government to prohibit any foreign investments over $299 million (or others of "significant" size, as established by the government) if it is determined that they do not or will not provide a net benefit to Canada. The act went into effect on June 20, 1985, as one of Brian Mulroney's first acts as part of the Progressive Conservative government.
Investment dictionary. Academic. 2012.
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