On Friday February 6, 2009, the Canadian Government tabled Bill C-10, an Act to implement certain provisions of the budget tabled in Parliament on January 27, 2009 and related fiscal measures. The Bill proposes significant changes to both the Competition Act and the Investment Canada Act. If passed into law, Bill C-10 will fundamentally transform Canadian competition in a way that will have serious ramifications for companies doing business in Canada.
The most significant changes include:
- Eliminating any market effects test from the conspiracy provisions;
- Significantly increasing the penalties for conspiracy and bid-rigging;
- Creating a new civil conspiracy provision;
- Introducing significant "administrative monetary penalties" (up to $10 million on first offence and $15 million on subsequent offences) for violations of the abuse of dominance provisions; and
- Introducing a US style of merger review.
These changes could have significant implications for companies doing business in Canada. To see a more detailed analysis of how, please click here.
A copy of the bill can be found at: