On 11 November 2020 the UK Government introduced the National Security and Investment Bill (NSI Bill) to Parliament, setting out significant legislative reforms which will overhaul the review of transactions and investments on national security grounds in the UK, against a backdrop of tightening of foreign direct investment (FDI) regimes globally. If passed, the NSI Bill will introduce for the first time a distinct regime and standalone powers for the review of FDI in the UK (referred to in this briefing as “the NSI regime”), replacing the existing public interest merger regime contained in the Enterprise Act 2002 (EA02) insofar as national security interests are concerned. The proposed NSI regime follows on from the Government’s July 2018 White Paper, but departs from the original
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