Economic Sanctions
Canada, usually due to participation in an international organization, implements various international economic sanctions in an effort to bring about a change in behaviour of specific states or individuals. Canada implements these sanctions through two acts: the United Nations Act and the Special Economic Measures Act.
The United Nations Act is the legislative vehicle by which Canada gives effect to decisions passed by the United Nations Security Council. Canada implements its specific United Nations (UN) obligations into Canadian law by passing regulations pursuant to this Act. For the most part, the sanctions implemented are directed towards specific countries, and may establish an embargo against certain goods or impose an asset freeze. There are currently a number of countries against which Canada has imposed certain measures. These measures also impose restrictions against engaging in enumerated activities with designated persons. Further, following September 11, 2001, the UN implemented a resolution directed specifically at identified individuals. The United Nations Suppression of Terrorism Regulations place a freeze on the dealing of property with listed persons, and impose an ongoing duty on Canadian financial institutions to determine and report monthly whether they are in possession or control of the property of a listed person.
The Special Economic Measures Act (“SEMA”) authorizes the Canadian Government to impose sanctions on foreign states, either of its own accord or as a result of an obligation undertaken in an international organization other than the UN (for example, NATO). The sanctions imposed by SEMA can be very far reaching and go beyond merely the control of imports and exports. Currently, there are comprehensive restrictions in place in regard to both Burma and Zimbabwe.
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May
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New Bill Heightens Potential for More Investment Canada Reviews of SOE Acquisitions
Last week the Canadian Government introduced amendments to the Investment Canada Act (ICA) to implement its revised policy towards state-owned enterprises (SOEs) which it announced in December last year. At that time, while it approved the acquisition by Chinese SOE, CNOOC, of Canadian oil and gas company, Nexen, the Government announced its intention to prohibit acquisitions of control of Canadian oil sands businesses by SOEs except on an exceptional basis.
Apr
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Presentation: Estate Planning for the Business Owner
In this presentation, Dentons' Doris Bonora and Cheryl Gibson describe the important considerations for business owners regarding estate planning.
Apr
17
No Class Action This Time: Federal Court of Appeal Upholds Arbitration Agreement
The complicated interplay between holding parties to an arbitration agreement and upholding the purpose and intent of legislation concerned with public order is not new in Canada. In 2011 the Supreme Court of Canada decided Seidel v Telus Communications Inc, in which the court refused to enforce an arbitration agreement at the expense of a class action proceeding. Seidel concerned the British Columbia Business Practices and Consumer Protection Act.
