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.
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