Budget Implementation Act Receives Royal Assent

OTTAWA, March 13, 2009 — The Budget Implementation Act received Royal Assent last night. The Act contains amendments that will modernize the Competition Act to better protect Canadians from the harm caused by anti-competitive conduct.

The Competition Bureau looks forward to working with stakeholders to implement the amendments in the most transparent and effective way possible.

Regulations to fully implement the amendments to the Act have not yet been published in the Canada Gazette. Pending that process, parties filing merger notifications should continue to use the existing short form reflecting information required under section 16 of the current Notifiable Transactions Regulations. The Bureau will continue to accept long-form notifications that parties wish to file. Either form of notification will trigger the 30-day waiting period found in the amended subsection 123(1). Applications for advanced ruling certificates under section 102 are unaffected by these amendments.

The Bureau will issue shortly, for public comment, draft guidelines on new merger review procedures. Provisions dealing with collaborations between and among competitors will not come into force for one year; draft guidelines on these amendments will be issued for public consultation in the months ahead. The Bureau will also be reviewing and updating guidelines and other publications on its Web site to ensure they reflect these amendments.

The Bureau is keenly aware of the importance of clarity and predictability for businesses and other stakeholders. To that end, we are committed to consulting and communicating on our approach to the application of the new law. In the meantime, interested parties with questions can contact Duane Schippers, Deputy Commissioner of Legislative and International Affairs, at duane.schippers@cb-bc.gc.ca.

The Competition Bureau is an independent agency that contributes to the prosperity of Canadians by protecting and promoting competitive markets and enabling informed consumer choice.

Media may contact:
Ian Jack
Deputy Commissioner
External Relations and Public Affairs
Competition Bureau
819-994-4994