The ICA, which purportedly liberalized review of foreign investment, in fact reaffirmed the Foreign Investment Review Agency’s role in reviewing extraterritorial transactions indirectly affecting control of Canadian business.’ This Comment examines the policy implications of FIRA’s and ICA’s extraterritorial application, and concludes that it is unnecessary and counterproductive when direct control of Canadian business is unchanged, or when contractual liability follows a direct change of control.
