New Ministers for Investment Canada
Canada's Prime Minister, Stephen Harper, unveiled his new Cabinet on May 18, 2011, after winning a majority in Parliament in the May 2 election. Christian Paradis, an MP from Quebec serving since 2006 and former Minister of Public Works and Government Services, has been appointed Minister of Industry Canada, replacing Tony Clement who moved to Treasury Board (to oversee federal government spending). James Moore, an MP from northern British Columbia serving since 2000, was re-appointed to his post as Minister of Canadian Heritage and Official Languages.
The Minister of Industry is responsible for deciding whether to allow foreign takeovers of certain Canadian businesses, either himself on the basis of whether the investment will be of "net benefit to Canada", or (with the ultimate decision being that of the Governor in Council, ie, the federal Cabinet) on national security grounds. The Minister of Canadian Heritage is responsible for "net benefit" reviews of foreign takeovers of Canadian businesses with activities (no matter how dry and seemingly "uncultural") in certain cultural industries (books, magazines, periodicals, newspapers, film, video or audio recordings, music scores, radio, TV, cable or satellite broadcast distribution).
Industry Canada also announced that Jennifer Aitken will soon replace Richard Saillant as Director General, Investment Review Division (IRD). Ms. Aitken has been working as legal advisor to Industry Canada and the IRD for several years and brings a wealth of experience to the role, which is responsible, on behalf of the Minister of Industry, for the day-to-day administration and enforcement of the non-cultural aspects of the Investment Canada Act. Her sister, Melanie Aitken, is Canada's Commissioner of Competition, directly responsible for the administration and enforcement of the Competition Act.
