What Happened
New Bill Streamlines Defence Procurement And Integrates Private Capital
The Canadian government has introduced Bill C-40, a significant overhaul of the country’s defence procurement regime. The bill creates a new Canadian Corporation for Defence Investment, which will house the Defence Investment Agency, and expands the scope of defence services and national security supplies. The changes aim to streamline defence procurement, increase flexibility, and attract private capital investment. The bill also provides new financial authorities for the Minister and DIA to invest in the national defence and national security sectors. According to Blake, Cassels & Graydon LLP, this overhaul may have significant implications for the defence industry and private capital investors.