Abstract
The Foreign Investment Review Act is complex piece of legislation which will have an important impact on the Canadian business community. The Act provides the federal government with authority to review and approve or reject investments by "non-eligible persons" to acquire control of existing Canadian businesses, to create new businesses, and to expand existing businesses in Canada. The author briefly discusses the purpose of the Act and the reviewing mechanism. He then provides an analysis of some of the possible effects of the Act on the Canadian oil and gas industry.
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