Transportation Modernization Act received royal assent

On 23 May 2018, the Transportation Modernization Act received royal assent. Effective 27 June 2018, it amends the Canada Transportation Act and its rules on Canadian ownership and control in fact for Canadian air carriers. Henceforth, the ceiling for foreign ownership has been set at 49%, up from 25%, subject to restrictions: a single foreigner may not own or control more than 25% of the voting interests in a Canadian air carrier, and foreign air carriers may not own more than 25% of the voting interest in a Canadian carrier. The Canadian Minister of Transport had announced the planned change in November 2016.

• Type:

  • Entry and establishment (Ownership and control)

• Industry:

  • Services (Transportation and storage)

• Sources:

  • GOVERNMENT OF CANADA, Minister Garneau’s statement on the Transportation Modernization Act receiving Royal Assent, https://www.canada.ca/en/transport-canada/news/2018/05/minister-garneaus-statement-on-the-transportation-modernization-act-receiving-royal-assen.html, 23 May 2018
  • PARLIAMENT OF CANADA, An Act to amend the Canada Transportation Act and other Acts respecting transportation and to make related and consequential amendments to other Acts, http://www.parl.ca/Content/Bills/421/Government/C-49/C-49_4/C-49_4.PDF, 23 May 2018