On 4 January 2022, the new UK foreign investment review regime under the National Security and Investment Act (“NSI Act”) came into force, completing the overhaul of the UK’s foreign investment rules and commencing operation of a standalone foreign investment screening regime for the first time in the UK. The new rules require businesses and investors to submit mandatory notifications for certain acquisitions of and investments in companies active in 17 key sectors of the…
In brief On 20 July 2021, the UK Government announced that the National Security and Investment Act will enter into full force on 4 January 2022. To help businesses prepare for commencement of the regime, the Government also published alongside this announcement a series of further guidance notes and materials. The NSI Act creates a new, self-standing UK investment screening regime on national security grounds, comparable to CFIUS in the US. The Act is extremely…
What are the latest developments? On 20 July 2021, the UK Government announced that the National Security and Investment Act 2021 (“NSI Act” or “Act”) will enter into full force on 4 January 2022. To help businesses and investors prepare for the commencement of the regime, the Government also published alongside this announcement a series of further guidance notes and materials (see here). As mentioned in our previous blog posts on this topic (see here,…
The National Security and Investment Bill was granted Royal Assent on 29 April 2021, becoming law as the National Security and Investment Act 2021. The UK Government announced in a press release that the regime is expected to commence towards the end of this year. The Act received broad cross-party support in Parliament and is part of a global trend towards increased powers for States to review foreign investments on national security grounds. Business Secretary…