The UK National Security and Investment (NSI) Act entered into force on 4 January 2022, introducing a new standalone UK regime for the review of qualifying transactions and investments on national security grounds (see our detailed briefing on the regime here). On 19 July 2022, the UK Government published a set of Market Guidance Notes (Guidance) based on analysis and feedback from the first 6 months of the NSI Act’s operation. The Guidance addresses practical points in relation to notifications and acquisitions of control under the Act, and circumstances in which the Government may publish information going beyond its statutory obligations. It also provides helpful clarity in relation to certain issues that
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