48:) provided the rationale and framework for the agency. FIRA was placed under the jurisdiction of the Department of Industry and later, when it was merged with the Department of Trade and Commerce, under the newly named Department of Industry, Trade and Commerce. As outlined in section 2(2) of the act, takeovers were assessed based on their contribution to job creation, Canadian participation in management, competition with existing industries, new technology, and compatibility with federal and provincial economic policies.
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was established by the
Canadian Parliament in 1973 to ensure that the foreign acquisition and establishment of businesses in Canada was beneficial to the country. The Foreign Investment Review Act that created the agency was the culmination of a series of government reports and debates. The 1957
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Globerman, Steven. "Canada’s
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Report expanded the idea of a screening process, and finally the Gray report (known officially as
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Bliss, Michael. "Founding FIRA: The
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Just Watch Me: The Life of Pierre
Elliott Trudeau 1968-2000
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Silent
Surrender: The Multinational Corporation in Canada
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Foreign
Ownership and the Structure of Canadian Industry
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Made in Canada: A Businessman’s
Adventures in Politics
121:. 2nd ed. Toronto: University of Toronto Press, 1973.
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Getting It Back: A Program for
Canadian Independence
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55:came to office in 1985, the agency was renamed
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114:. Toronto: Clarke, Irwin, 1974.
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