Plans
Plans and Undertakings
Progress Report
The following constitutes a few tips to assist investors in preparing meaningful and complete progress reports regarding the implementation of the plans and undertakings which were submitted as part of the application for review of a proposed investment under the Investment Canada Act.
Note: please submit the hard copy of the original progress report in writing to the Investment Review Division. To facilitate the processing of the progress report, investors are also encouraged to submit an electronic version in any manner they choose as long as they are satisfied with its security.
- The progress report should separately address each item in the plans and undertakings.
- The progress report should be specific wherever possible. Reports containing general
statements such as: "the plans were fulfilled as anticipated" or "growth was achieved as
planned" do not provide the information needed to assess the progress report.
- The progress report should contain figures, statistics, dates and relevant data where
possible. For example, if the plans or undertakings indicated that a specific sum was
going to be spent on capital expenditures within a certain time frame, please indicate the
dollar figure of what was actually spent during the relevant time frame. Similarly, if commitments were given
with respect to employment levels within certain time frames, please indicate the actual
employment figures at the relevant times.
- If a plan or undertaking has not been either partially or completely fulfilled, the investor
should indicate why and whether additional activity is being carried out with respect to
the plan or undertaking to achieve its objective and what the time frame will be.
- Where the investor indicates that the plans or undertakings were not fulfilled due to circumstances beyond the control of the investor, the investor should explain the circumstances and the impact on the investor's business.
- Date modified:
