The Canadian Chamber of Commerce, through their formally recognized National Cannabis Working Group, will be reviewing the Cannabis Act that presides as legislation over the cannabis industry in Canada. The goal being to analyze the effects of legalizing cannabis in Canada.
The review will be a opportunity to look deeper at the effects of legalizing cannabis in Canada and to offer insight on how Canada can enhance their cannabis industry structure, and what sort of changes could be made to make legal cannabis better as well as solve current problems in the industry. The Canadian Chamber of Commerce is a group that will help look into the economic consequences on and from the cannabis industry, and they expect to learn a great deal from taking a closer look at the industry as a whole.
Ryan Greer, senior manager of the Cannabis Policy in the Chamber and co-chair of the Working Group, stated, “As the first among larger developed economies to legalize recreational cannabis for adult use, Canadian cannabis businesses have learned first-hand about what portions of the Cannabis Act and related regulations have worked and what have not. During this review, the industry will offer comprehensive recommendations to the federal government about what changes are required so business can better compete with the illegal market, create more new jobs and maintain Canada’s leadership in global markets and help the government achieve its safety and health objectives.”
The Cannabis Act has to be reviewed three years after legalization, which happened in 2018, so as to keep up with the arrangements of the initial legislation. The review has to be launched October 17, 2021, on the anniversary date, so it is essential that the industry starts preparing now. Eric Foster of Dentons Canada will lead the review. Dentons Canada is a significant cannabis practice in the nation providing legal counsel to the Canadian cannabis market. Davies, a cannabis industry and investment law firm will support the review on the effects of legalizing cannabis in Canada.
Talks will start this fall to learn more about what ought to be looked at during the review. These discussions will also offer the public with a opportunity to let their feelings be known. The first conversations will set the stage for the real review to occur in 2021.
It’ll be a while before Canada has the results of the review and will know about any changes, but discussions have started to take a serious look at ways to enhance the industry for the next few years. A year from now, more will be known about the future of cannabis in Canada, among those nations paving the way for a global cannabis industry. This discussions will be held publicly with the next one November 11th, 2020,and if you are interested in attending you can click here to register.