Tag Archives: parliament

Beware Of Overreach In Canada Competition Law Reforms

May, 2024 – Many of the federal government’s recent reforms in competition law sensibly strengthen the enforcement powers of the Competition Bureau and private actors seeking redress for allegedly anti-competitive behavior. However, amendments to the Competition Act that simply make it easier to meet legal tests for orders against allegedly anti-competitive conduct are over-reach, says a new report by our friends at the C.D. Howe Institute.

In “Uncertainty and the Burden of Proof in Canadian Competition Law,” author Edward M. Iacobucci, a professor in corporate and competition law at the University of Toronto and Competition Policy Scholar at the C.D. Howe Institute, says that while strengthening the enforcement powers of the Competition Bureau is welcome, other amendments to the Competition Act imply more profound changes to the fundamental posture of competition law.

Specifically, there is a family of amendments and proposals to move away from the bedrock principle that the burden rests with the Bureau to prove, on a balance of responsibilities, that a merger or practice by a dominant firm is likely to be or is anti-competitive. 

For example, the author argues that lowering the burden of proof in mergers cases to “appreciable risk” of anti-competitive effects or something analogous would be a mistake.

“The overwhelming problem with this standard is that it is too easy to meet and fails to distinguish anti-competitive from benign conduct,” he states.  He also disagrees with proposals to rely on market shares rather than competitive assessments in mergers cases.  He objects in addition to abolishing the requirement to analyze anti-competitive effects in abuse of dominant position cases – recent amendments imply that pro-competitive conduct could be treated as an abuse of dominance.

Aside from competition law reform, the author notes that there are other policy reforms that could promote competition. 

 “Assuming competition has worsened in Canada, there are several remedial policies that I suspect would be far more important than competition law reform,” he says. “The OECD ranks Canada near the worst internationally in establishing regulatory barriers to competition.” 

 Regulation, internal trade barriers, restrictions on international competition and ownership, and other policies are all important contributors to reducing competition in Canada and, certainly in their collective impact, are more important than competition law, he argues.

Nevertheless, there are good reasons to take stock of Canadian competition law.

“The vulnerability of digital markets to market power stemming from network externalities and scale economies encourages reflection on whether the Competition Act continues to be suitable for present times.”

“I am skeptical of the narrative that the law requires sweeping reform to address the digital economy or to reverse a strong, secular decline in competition caused by competition law,” Iacobucci added. “But I am not skeptical that there is room for improvement. I encourage the government to focus on strengthening enforcement and to resist and even reverse recent reforms to the burden of proof.”

For The Silo, Edward M. Iacobucci, TSE Chair in Capital Markets, Faculty of Law, University of Toronto and C.D. Howe Competition Policy Scholar.

Read the full report here.

Study in Brief:

• There are good reasons to take stock of Canadian competition law. The vulnerability of digital markets to market power stemming from network externalities and scale economies encourages reflection on whether the Competition Act continues to be suitable for present times.

• Recently, a number of statutory amendments have been proposed to amend the Act, some have been tabled in Parliament and still others already adopted. The federal government recently passed consequential amendments that grant the Minister of Innovation, Science and Economic Development (ISED) the power to initiate market studies, to include scrutiny of vertical agreements as possibly anti-competitive collaborations, to repeal the efficiencies defence to mergers, and to lower the burden of proof in abuse of dominance cases.

• Many of the government’s actions to date sensibly strengthen the enforcement powers of the Competition Bureau and make it easier for private actors seeking redress for allegedly anti-competitive behaviour.

• There are, however, other actual and proposed amendments that imply profound changes to the fundamental posture of Canadian competition law. In particular there are actual and proposed amendments that move away from the bedrock principle that the burden rests with the Bureau to prove, on a balance of probabilities, that a merger or practice by a dominant firm is likely to be or is anti-competitive.

• While enhancing enforcement is welcome, legislative amendments that lower the burden of proof are a mistake.

World First Magnet Operated Coin From Canada Mint

OTTAWA, June, 2018 / CNW/ – The Mint continues to tap in to its creativity and innovation to further unleash the potential of coin manufacturing and transform the coin collecting experience.  Such is the case with the 2018 $50 Fine Silver Coin – Antique Carousel and several other head-turning coins in the June 2018 numismatic catalogue.

In a world-first, the Mint’s Research & Development team has meticulously created a 6 oz. silver coin featuring a miniature, functional carousel that rotates with the help of a magnet.  This timeless attraction at countless Canadian carnivals and fairs is the crowning piece of artist Calder Moore’s design, selectively plated in gold, much like the gilded carousels of the past.  Even the horses move up and down on this dazzling creation which is limited to a world-wide mintage of only 1,000.

Another impressive 3D design element can be found on the 2018 $200 Pure Gold Coin – 30th Anniversary of the Silver Maple Leaf.  This 1 oz. gold coin is enhanced by a “high intricacy casting” of a silver maple leaf that literally pops from its reverse proof surface.  In another Mint-first, we have launched the 2018 $250 Fine Silver Coin – Maple Leaf Forever: a one kilo 99.99% pure silver coin, our largest convex coin to date, featuring the artwork of senior Mint engraver Stan Witten.

Finally, two new coin sets stand out as memorable additions to an exciting line-up of classic and unique numismatic products.  The 2018 Fine Silver 3-Coin Set – Beneath Thy Shining Skies features a complex design by artist Rebecca Yanovskaya. Two rectangular coins flank a maple-leaf shaped centrepiece to compose a panoramic tableau that links scenery and famous Canadian landmarks to illustrate the story of our nation and its people.

History takes centre stage on a four-coin set celebrating the “Colonial Currency of the Atlantic Provinces”.  Struck with dies mimicking the wear of well-circulated coins and hand finished with an antique patina, these icons of early Canadian numismatic history are beautifully reproduced in 99.99% pure silver.  In order to bring out the elegant features of each period design, each coin is larger in diameter than its original.

Other collectibles available this month include:

  • The 2018 $20 Fine Silver Coin – First World War Allied Forces: Canada, the first coin in a new series commemorating the contribution of the major Allied forces that brought fighting to an end with the Armistice of November 11, 1918. The design featuring the Canadian cavalry is the work of artist Pandora Young;
  • The $100 Fine Silver Coin – Keepers of Parliament: The Unicorn, the first of a series of 10 oz. silver coins, designed by Patrick Bélanger and showcasing stonework figures watching over the front doors of Parliament;
  • The 2018 $30 Fine Silver Coin – Fireworks at the Falls, featuring a Tony Bianco colour illustration of the natural landmark, with a hidden nighttime fireworks scene only visible under black light;
  • The 2018 $500 Pure Gold Coin – Predators of the Wild, an impressive 5 oz. designed by Emily Damstra;
  • The 2018 $30 Fine Silver Coin – Zentangle® Art: The Great Horned Owl, designed by Jori Van Der Linde;
  • The 2018 $30 Fine Silver Coin – Canadian Canopy: The Maple Leaf, designed by Emily Damstra;
  • The 2018 $20 Fine Silver Coin Frozen in Ice – Scimitar Sabretooth Cat, designed by Glen Loates;
  • The 2018 $3 Fine Silver Coin – The Thirteen Teachings from Grandmother Moon: Strawberry Moon, designed by Frank Polson; and,
  • The crystal-enhanced 2018 $5 Fine Silver Coin – Birthstones: July, featuring a mandala-inspired ruby design by artist Pandora Young.

Mintages, pricing and full background information on each product can be found on the “Shop” tab of www.mint.ca. Coin images can be viewed here.

All of these products can be ordered directly from the Mint at 1-800-267-1871 in Canada,
1-800-268-6468 in the US, or online at www.mint.ca.  Please mention The Silo when contacting. The coins are also available at the Royal Canadian Mint’s boutiques in Ottawa and Winnipeg, as well as through our global network of dealers and distributors, including participating Canada Post outlets.

About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. An ISO 9001-2008 certified corporation, the Mint is recognized as one of the largest and most versatile mints in the world, offering a wide range of specialized, high quality coinage products and related services on an international scale.