Today, the Competition Bureau (Bureau) and the Investment Review Division (IRD) of Innovation, Science and Economic Development Canada (ISED) issued an Administrative Note (Note) to increase transparency on the nature and scope of communications between the two organizations. As part of its mandate, the Bureau reviews transactions to determine whether they could reduce competition in Canada. At times, these transactions are also subject to a separate review by IRD under the Investment Canada Act (ICA) to determine whether they are likely to be of overall economic benefit to Canada. When reviewing the same transaction, the Bureau and IRD communicate with each other to increase the efficiency of their reviews and better deliver on their independent mandates. Sharing information leads to more informed decisions and reduces duplication of efforts. The Note outlines how and what type of information is shared between the Bureau and IRD, and recognizes the limits to this information sharing, based on legal obligations.

• Openness and transparency are two of the Bureau’s core values. The publication of this Note between the Bureau and IRD directly supports the Bureau's Action Plan on Transparency, which aims to promote the development of a more cost-effective, efficient and responsive agency, while providing Canadians with more opportunities to learn about its work.

• Decisions made by the Commissioner of Competition under the Competition Act and by the Minister of Innovation, Science and Economic Development under the ICA are taken independently and in accordance with the relevant statute. However, the analysis conducted for the purpose of each independent review, and in some cases the outcomes, can benefit and inform  decisions under both regimes.

• Information sharing is subject to the organizations’ respective confidentiality and privilege obligations. The organizations do not exchange information if doing so would contravene any relevant legislation, international instruments, policies or guidance documents.  

Associated links

• Administrative Note on communication between the Competition Bureau and Investment Review Division of Innovation, Science and Economic Development Canada
• Reviewing mergers
• Investment Canada Act
• The Competition Bureau — "Enhancing Transparency"

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The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.