Court action by US Steel, arising from its acquisition of Stelco (a Canadian company), may prompt a review and rewrite of the Investment Canada Act, which regulates the investment in Canadian companies by foreign investors.  The current provisions of the Act (specifically sections  39 and 40), provide for government sanctions, including the forced divestiture of the offending entity’s Canadian assets, without judicial recourse.  To say there is a constitutional issue here, is a significant understatement.

CP – Court challenge could result in rewrite of Investment Canada Act: expert