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If Canada wants to keep the investment community interested in the country’s natural resource sector it should find ways to better manage the red tape posed by regulatory regimes in this country.
As part of its Top 10 Business Issues with Legal Implications for 2012, Borden Ladner Gervais LLP cites the need to keep foreign investors interested in Canada’s Far North and specifically the need to address aboriginal consultation requirements and environmental regulations as potential hurdles.
In particular, Adam Chamberlain, the national leader and a partner in the climate change group at BLG, cited the special regulatory environment in Nunavut as an area with its own unique challenges. “You’re dealing with a regulatory framework that is substantially different than anywhere else in the country,” says Chamberlain.
He notes that Nunavut is the only territory that exists because of a modern land claim agreement.