Cultural Sector Investment Review
Government of Canada Releases Policy Statement and Revised Guidelines for Investments by State-Owned Enterprises. Please see the following link to the announcement and other background documents http://news.gc.ca/web/article-eng.do?nid=711489.
NOTE: THRESHOLDS FOR REVIEW - Please note that the current thresholds for the review of investments in the cultural sector and the method for calculating those thresholds ($5M in asset value for direct acquisitions and $50M in asset value for indirect acquisitions) will not be affected by the proposed changes to the Investment Canada Regulations.
Authority for the review and approval of foreign investments related to cultural industries was transferred to the Minister of Canadian Heritage from the Minister of Industry in June 1999. Proposed new investments that could result in ownership and control of Canadian cultural businesses by foreign investors are the responsibility of Canadian Heritage under the Investment Canada Act and related regulations and guidelines. Such businesses include those involved in the publication, distribution or sale of books, magazines, periodicals, newspapers or music in print or machine readable form. Also covered are those involved in the production, distribution, sale or exhibition of film or video products or audio or video music recordings.
- Net Benefit Undertakings and Canadian Cultural Policy
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