The National Security and Investment Act
The National Security and Investment (NSI) Act will be fully coming into force on the 4th January 2022. Press Release here
The Department for Business, Energy and Industrial Strategy (BEIS) has published guidance to assist businesses, investors and advisors in understanding and meeting the requirements of the NSI Act ahead of its commencement.
The guidance is as follows:
- NSI Act Overview: prepare for new rules about acquisitions which could harm the UK’s national security
- How the National Security and Investment Act could affect people or acquisitions outside the uk
- The National Security and Investment Act alongside regulatory requirements
- NSI Guidance for the Higher Education and Research-Intensive sectors
For a link to the Act and other relevant documents please click here
Notifiable Acquisition Regulations
BEIS has also published a draft of notifiable acquisition regulations in the 17 sensitive areas of the economy: https://www.gov.uk/government/publications/national-security-and-investment-act-draft-notifiable-acquisition-statutory-instrument
Guidance on these regulations will be published in the autumn.
Section 3 Statement consultation
The Section 3 Statement, which sets out the expected use of the call-in power, was published for consultation on 20th July and BEIS would be interested in receiving responses from you, your members, and your contacts. This consultation closes at 11:45pm on 30 August 2021.
You can access the consultation here: https://www.gov.uk/government/consultations/national-security-and-investment-act-2021-statement-on-the-use-of-the-power-to-call-in-acquisitions
Please send any queries to: firstname.lastname@example.org
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