{"id":864,"date":"2007-06-28T07:00:00","date_gmt":"2007-06-28T07:00:00","guid":{"rendered":"https:\/\/mhgoldberg.com\/blog\/?p=864"},"modified":"2017-01-25T15:27:14","modified_gmt":"2017-01-25T20:27:14","slug":"statutes-and-limitations","status":"publish","type":"post","link":"https:\/\/mhgoldberg.com\/blog\/?p=864","title":{"rendered":"Statutes and limitations"},"content":{"rendered":"<p>As <a href=\"https:\/\/mhgoldberg.com\/blog\/?p=865\">I indicated yesterday<\/a>, there are a number of touch points for government review in a transaction like buying a phone company.<\/p>\n<p>Regardless of who acquires BCE &#8211; even if it is a private equity firm &#8211; there will need to be an application to the CRTC for approval of the transaction, under the <a href=\"http:\/\/crtc.gc.ca\/eng\/LEGAL\/TELECOM.HTM\">Telecom Act<\/a>, <a href=\"http:\/\/crtc.gc.ca\/eng\/LEGAL\/BROAD.htm\">Broadcast Act<\/a> and <a href=\"http:\/\/lois.justice.gc.ca\/en\/showtdm\/cs\/B-3.6\">Bell Canada Act<\/a>.<\/p>\n<p>It appears that the time pressures for the CRTC could be considerable. Under the Bell Canada Act:<\/p>\n<blockquote style=\"color: #666666; text-align: justify;\"><p><span style=\"font-size: 85%;\">Unconditional approval shall be deemed to be given under subsection 11(2) thirty days after written notification of a proposed transaction to the Commission, without prejudice to the exercise of the Commission\u2019s powers under the Telecommunications Act. <\/span><\/p><\/blockquote>\n<p>That seems to mean that the CRTC has only 30 days under the Bell Canada Act, but perhaps more time under the Telecom Act. [<span style=\"color: #666666; font-size: 85%;\"><span style=\"font-style: italic;\">Lawyers, can you help us here?<\/span><\/span>] As we saw in the CRTC&#8217;s review of the <a href=\"http:\/\/www.crtc.gc.ca\/archive\/ENG\/Decisions\/2007\/db2007-165.htm\">CTV\/CHUM<\/a> transaction, the CRTC can be very responsive, but even that determination still took 6 months from the date of the original application in order to allow oral hearings.<\/p>\n<p>The CRTC would be guided in its review the transaction by assessing the consistency with the objectives of the Telecom Act:<\/p>\n<blockquote style=\"color: #666666; text-align: justify;\">\n<ol type=\"a\">\n<li><span style=\"font-size: 85%;\">to facilitate the orderly development throughout Canada of a telecommunications system that serves to safeguard, enrich and strengthen the social and economic fabric of Canada and its regions;<\/span><\/li>\n<li><span style=\"font-size: 85%;\">to render reliable and affordable telecommunications services of high quality accessible to Canadians in both urban and rural areas in all regions of Canada;<\/span><\/li>\n<li><span style=\"font-size: 85%;\">to enhance the efficiency and competitiveness, at the national and international levels, of Canadian telecommunications;<\/span><\/li>\n<li><span style=\"font-size: 85%;\">to promote the ownership and control of Canadian carriers by Canadians;<\/span><\/li>\n<li><span style=\"font-size: 85%;\">to promote the use of Canadian transmission facilities for telecommunications within Canada and between Canada and points outside Canada;<\/span><\/li>\n<li><span style=\"font-size: 85%;\">to foster increased reliance on market forces for the provision of telecommunications services and to ensure that regulation, where required, is efficient and effective;<\/span><\/li>\n<li><span style=\"font-size: 85%;\">to stimulate research and development in Canada in the field of telecommunications and to encourage innovation in the provision of telecommunications services;<\/span><\/li>\n<li><span style=\"font-size: 85%;\">to respond to the economic and social requirements of users of telecommunications services; and<\/span><\/li>\n<li><span style=\"font-size: 85%;\">to contribute to the protection of the privacy of persons.<\/span><\/li>\n<\/ol>\n<\/blockquote>\n<p>The Broadcast Act will also come into play because of broadcast licenses held by Bell.<\/p>\n<p>On top of these CRTC review points, there is also the Competition Bureau that will need to assess whether a <span style=\"font-style: italic;\">substantial<\/span> lessening of competition is expected to result, substantial being the operative word.<\/p>\n<p>With TELUS saying that it is no longer pursuing its bid, it may plan to pick up assets expected to be divested after a private equity acquisition. Depending on the pieces, the entire review process may start all over again!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As I indicated yesterday, there are a number of touch points for government review in a transaction like buying a phone company. Regardless of who acquires BCE &#8211; even if it is a private equity firm &#8211; there will need to be an application to the CRTC for approval of the transaction, under the Telecom &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/mhgoldberg.com\/blog\/?p=864\"> <span class=\"screen-reader-text\">Statutes and limitations<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","two_page_speed":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-864","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Statutes and limitations &#8226; Telecom Trends<\/title>\n<meta name=\"description\" content=\"As I indicated yesterday, there are a number of touch points for government review in a transaction like buying a phone company. 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