The UK Parliament approves the National Security and Investment Act

On 29 April, the UK Parliament adopted the National Security & Investment Law (“NS&I Law”). The law received Royal Assent the following day and will come into legal effect in late 2021. The NS&I Law will introduce mandatory notification and pre-clearance requirements for transactions in 17 “core” sectors. This long-awaited piece of legislation has passed through Parliament substantially un-amended, except that the investment threshold for mandatory notification has been raised from the acquisition of a 15 per cent. to 25 per cent. interest in shares or voting rights in an acquisition target. The UK Government retains extensive discretion to “call-in” investments for review, both within and outside the 17 “core” sectors, including (i) acquisitions of control of assets and (ii)

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Authors

  • Covington & Burling (London)
  • Covington & Burling (London)
  • Covington & Burling (London)
  • Covington & Burling (London)

Quotation

Gregory Lascelles, James Marshall, Thomas Reilly, Katherine Kingsbury, The UK Parliament approves the National Security and Investment Act, 29 April 2021, e-Competitions April 2021, Art. N° 100852

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