Canada government launching legislative review of Cannabis Act

Medical Oil Cannabis - marijuana oil, resin and flowers with Canada flag on the mirror black background.

Kazyaka

The Government of Canada has started a legislative review of the 2018 Cannabis Act, legislation that legalized the sale of marijuana in the country.

Health Canada said that the review is needed to ensure that the law adapts to the current cannabis control situation and continues to meet Canadians' needs and expectations.

A five-member Expert Panel will conduct the review. The group will assess progress made on the Act's objectives so far and identify priority areas for improving the legislation.

The panel will also examine the following areas: economic, social and environmental impacts of the Act; progress towards providing adults with access to strictly regulated, lower risk, legal cannabis products; progress in displacing the illicit cannabis market; impact of legalization and regulation on access to cannabis for medical purposes; and impacts on Indigenous peoples and racialized communities who might be at greater risk of harm or face greater barriers to participation in the legal industry.

Top Canadian cannabis licensed producers: Canopy Growth (NASDAQ:CGC), Tilray Brands (NASDAQ:TLRY), Aurora Cannabis (NASDAQ:ACB), Cronos Group (NASDAQ:CRON), HEXO Corp (HEXO), OrganiGram Holdings (OGI), and TerrAscend (OTCQX:TRSSF).

For more on cannabis companies, listen to episodes of Seeking Alpha's Cannabis Investing Podcast.

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