The proposed regime is a huge departure for the United Kingdom, since it introduces mandatory filings for certain investments raising a national security concern, while it also gives the UK government extensive call-in powers for a period of up to five years for completed transactions, and it has retrospective application for transactions closing on or after 12 November 2020 but before the Bill is enacted. I. Summary and key takeaways On 11 November 2020, the draft National Security and Investment Bill (the Bill) was laid before the UK Parliament. Assuming the new regime is ratified by Parliament in its current form, it represents a marked departure for the UK since it proposes to: introduce mandatory pre-closing filings to a new Investment Security Unit within the UK Government’s
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The UK Government proposes national security investment screening regime
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