The National Security and Investment (NSI) Act will allow the government to be able to scrutinise and intervene in certain acquisitions made by anyone, including businesses and investors, that could compromise the UK’s national security. The government will also be able to impose certain conditions on an acquisition or, if necessary, unwind or block it.
Despite the powers afforded by the Act, the Department for Business, Energy & Industrial Strategy said it expected that it would “rarely” have to use them and anticipated that the “vast majority” of deals will require no intervention.
Business secretary Kwasi Kwarteng said: “The UK is world-renowned as an attractive place to invest but we have always been clear that we will not hesitate to step in where necessary to protect our national security. The new investment screening process in place from today is simple and quick, giving investors and firms the certainty they need to do business, and giving...