Last week the government published new guidance on “notifiable” acquisitions under the National Security and Investment Act 2021 (NSI). This welcome guidance sets out the types of relevant activities in each of the 17 sensitive areas of the economy (listed below) which will trigger a mandatory notification to government on a proposed acquisition or investment.
|Advanced Materials||Advanced Robotics||Artificial Intelligence||Civil Nuclear||Communications||Computing Hardware|
|Critical Suppliers to Government||Cryptographic Authentication||Data Infrastructure||Defence||Energy||Military and Dual-Use|
|Quantum Technologies||Satellite and Space Technologies||Suppliers to the Emergency Services||Synthetic Biology||Transport|
Guidance on how to register for the online notification form service and complete notification forms remains to be "published closer to full commencement".
The National Security and Investment Act comes into force on 4 January 2022. It allows the government to scrutinise and intervene in certain acquisitions made by anyone, including businesses and investors, that could harm the UK’s national security.