The UK Parliament’s Act on foreign direct investment receives Royal Assent

The UK National Security and Investment Act 2021 (NSI Act) received royal assent on 29 April 2021. Expected to come into force in late 2021, the NSI Act will introduce a standalone UK foreign direct investment and national security screening regime, replacing the current regime that links national security screening with UK merger control. The new regime will significantly increase the UK government’s ability to review foreign direct investment (FDI) in UK businesses on national security grounds. The NSI Act introduces a mandatory notification regime for certain key sectors, stipulates for significant sanctions for failure to do so, gives the secretary of state for Business, Energy and Industrial Strategy (BEIS) the power to investigate and order remedies for other investments giving