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What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Canada | Publication | January 25, 2022
On February 25, 2019, we issued an update concerning the end of the transition period for persons using groundwater without a licence under the Water Sustainability Act (WSA). In a later update, we noted that the BC government issued an order-in-council extending the end of the transition period to March 1, 2022.
The WSA provides for a transition period for persons currently using groundwater without a licence, which comes to an end on March 1, 2022. Most non-domestic users of groundwater in British Columbia should accordingly apply for a water licence before March 1, 2022, in order to lawfully continue to use and divert water from an aquifer and to preserve their dates of precedence for groundwater use.
A water licence specifies how much water a person can legally use and secures a person’s access to that water.
Senior water licensees are given priority over junior licensees when it comes to exercising their water rights. Existing groundwater users who apply for a water licence before March 1, 2022, are eligible to have their date of first use of the groundwater as their date of precedence. However, a water user that waits until after March 1, 2022, to apply will be treated as a new applicant, and will thus be given a junior priority date based on the date of the water user’s application.
Further, after March 1, 2022, every unlicensed non-domestic use of groundwater will constitute an offence under the WSA and may trigger fines of up to $200,000, administrative penalties (if enacted in the future), and orders to cease water use.
For more information, please see our February 2019 and March 2019 updates.
The authors wish to thank Mackenzie Hayden, articling student, for his help in preparing this legal update.
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It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
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The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
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On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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