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To print this article, all you need is to be registered or login on Mondaq.com. Summary The UK's long-awaited National Security and Investment Act passed into law on 29 April 2021 when it received Royal Assent. Secondary legislation will follow and the regime is expected to be fully in force towards the end of the year. Here is what you need to know. The National Security and Investment Act 2021: The UK's long-awaited National Security and Investment Act passed into law on 29 April 2021 when it received Royal Assent. Secondary legislation will follow and the regime is ...
To embed, copy and paste the code into your website or blog: Watch out for the National Security and Investment Act which has now received royal assent although it is still not expected to come fully into force until this Autumn due to the amount of secondary legislation that needs to be prepared. The Act introduces a whole new regulatory landscape for overseas and domestic investors and will significantly increase the UK government's ability to scrutinise investments on national security grounds. The Act introduces a mandatory and voluntary notification regime depending on the type of ...
Introduction The National Security and Investment Bill (“NSI Bill”) is due to complete its passage through Parliament in May 2021 and it is anticipated it will receive Royal Assent soon after. A number of necessary statutory orders will then be made under the new Act and the legislation is due to enter into force by the end of the year (2021). The NSI Bill seeks to establish a new, standalone statutory regime to allow the UK Government to scrutinise and intervene in certain acquisitions and investments for the purposes of protecting national security (NSI Regime). It will replace the curr...
To embed, copy and paste the code into your website or blog: In November 2020, the UK Government introduced the National Security and Investment Bill (the "Bill"). Subject to the passing through UK Parliament, the Bill is expected to become law in early 2021, ushering in a Committee on Foreign Investment in the United States (CFIUS)-style regime for the UK Government to scrutinise foreign investment. The Bill gives the Secretary of State for Business, Energy and Industrial Strategy (BEIS) powers to screen business transactions where BEIS reasonably suspects there is, or could be, a risk to na...