The National Security and Investment Act (“NSI Act”) came into force this week, completing the overhaul of the UK’s foreign investment rules and creating a standalone foreign investment screening regime. The new rules require businesses and investors to submit mandatory notifications for certain acquisitions of and investments in companies operating in 17 key sectors. The rules also grant the UK Government extensive powers to investigate and impose conditions on a wide range of transactions, including corporate investments as well as asset transactions, on national security grounds.

This is important for export control professionals to be aware of as they may be called upon to assist with assessments, particularly where military and dual-use assets are concerned.  

For more information on foreign investment regimes, please visit our Foreign Investment and National Security blog.

Author

Samantha Mobley is a partner in the EU, Competition & Trade Practice of Baker & McKenzie’s London office and a member of the London office Management Committee. She headed Baker McKenzie’s Global Antitrust and Competition Group, a team of over 300 competition and antitrust specialists worldwide for six years. Samantha has significant experience of advising on the implications of foreign direct investment rules for cross-border transactions.

Author

Ross Evans is a Senior Associate in the EU, Competition and Trade team in London, who specializes in advising companies in the technology, telecoms, engineering, and fintech sectors on how to manage a rapidly changing landscape of competition/antitrust, trade law, and national security and investment regimes. He regularly advises clients in relation to UK public interest intervention rules and national security and investment issues, and on global foreign investment review strategy, leveraging his expertise in trade and export control laws and competition merger control regimes, and an in-depth understanding of emerging technologies.

Author

Author