Businesses urged to prepare for National Security and Investment Act
Businesses and investors are being urged to get ready for changes to the UK’s national security regime which will commence fully on 4 January 2022.
The National Security and Investment Act modernises the UK government’s powers to investigate and intervene in mergers, acquisitions and other deals that could threaten the UK’s national security.
The new regime will see investors being given more efficient clearance processes for relevant acquisitions as well as more transparency about what types of deals the government could examine and the processes for doing so.
The regime also means new rules for businesses. Once the Act is commenced, the government will be able to scrutinise and intervene in certain acquisitions made by anyone, including businesses and investors, that could harm the UK’s national security, but the government say the regime will be targeted and proportionate.
Once the Act fully commences, investors planning an acquisition in one of the defined sensitive areas of the UK economy may need to get approval from the government before they can complete it.
Before the new laws are commenced on 4 January 2022 businesses and investors are encouraged to read a range of guidance published by the UK government today, to ensure they understand this new process. More guidance will follow later this year.
- Blairgowrie Firm win double at Top UK Industry Awards
- Business Membership Launched by Rotary Club Perth
- The Queen's Green Canopy
- Golf Day 2021 Results
- Scottish Government Programme for Scotland 2021-2022
- First Minister announces plan for domestic vaccine certification
- Lindsays: Rise in employee-owned companies is good for Scotland’s economy
- Cyclists Prepare for 500-Mile Highland Charity Challenge
- Perthshire Chamber's Annual Golf Day Returns for September 2021
- New Perthshire Chamber Training and Networking Events
- Kilmac on the road to all-electric fleet
- Salmoni's marks 50th anniversary by move to new premises
- New £450m fund to unlock cutting-edge innovation across gas and electricity networks
- Prepackaged for Direct Sale Legislation - Food Standards Scotland
- Consultation on Scotland's first Framework for Tax
- Forth Valley Virtual Trade Mission to Belgium
- Blackadders: Knowledge of disability is key in disability discrimination claims
- Stagecoach launches new sustainability strategy
- Thorntons launches Charity Wills Campaign virtually this September
- Loan scheme launched for Scotland's farmers and crofters
- New touring fund for live music
- Scottish Covid inquiry to start later this year
- Blackadders - To be or not to Airbnb?
- Future Looks Bright For SMEs – New SME Barometer