The UK’s much publicised National Security and Investment Bill has now been granted Royal Assent – passing into law an Act which will significantly affect the way investments in the UK can be reviewed by the Government where they raise national security considerations. The Act introduces a mandatory notification regime for certain key sectors (with significant sanctions for failure to do so) and the possibility of voluntary notification or risk of being called in by the Government for review for other transactions. The new regime is expected to go live towards the end of the year but has retroactive application in certain respects to transactions being undertaken in the interim. Overview On 29 April 2021, the National Security and Investment Bill was granted Royal Assent (see the

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