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Canadian Government Introduces Legislation to Add Sanctions 50% Rule and Update Rules on Ownership and

Canada s Federal Government introduced Bill C-47, An Act to implement certain provisions of the budget tabled in Parliament on March 28, 2023, containing some potentially significant amendments to certain Canadian economic sanctions legislation, namely the Special Economic Measures Act SEMA and the Justice for Victims of Corrupt Foreign Officials Act Magnitsky Law, which introduce new legal tests with the apparent intention of clarifying Canada s murky sanctions ownership and control rules. ....

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