You are using an outdated browser. Please upgrade your browser to improve your experience.
The National Security and Investment Act 2021 (the “NSI Act”) came into force on 4 January 2022. As we highlighted in our February 2021 edition of Insolvency Bitesize, it implements a screening regime for acquisitions of certain entities and assets located in, or which have a sufficient connection to, the UK. In particular, the NSI Act introduces a mandatory notification regime in respect of the acquisition of control of entities active in 17 high-risk sectors in the UK. Regulations specify the sectors and define the activities which fall within each of the sectors and the Government has published guidance to assist in their interpretation. The NSI Act also introduces a broader call-in power in respect of the acquisition of control of assets and entities which could pose a risk to national security. Parties to a transaction which may be subject to the call-in power may decide to provide a voluntary notification.